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| Author: | Ettredge, M. Reed, M. Stone, M. |
| Title: | An examination of substitution among monitoring devices: The case of internal and external audit expenditures |
| Journal: | Review of Quantitative Finance and Accounting
2000 : JUL, VOL. 15:1, p. 57-79 |
| Index terms: | Auditing Internal auditing Agencies Time series Mathematical models Quantitative techniques Cross-sectional models |
| Freeterms: | Agency costs |
| Language: | eng |
| Abstract: | Much of the agency literature assumes that various monitoring devices are partial substitutes in reducing total agency costs. Internal and external auditing often are characterized as monitoring devices that should be partial substitutes. This study provides a new approach to examining the relation between internal and external auditing effort. Our analysis explains why studies of the cross-sectional relation between external auditing and internal auditing often do not detect a negative association. |
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