Rogier Deumes

Assistant Professor

Dr. Rogier Deumes is an Assistant Professor of Accounting and Corporate Governance at Maastricht University’s School of Business and Economics (SBE). He also serves as Program Director for UMIO’s continuing education programs for board members, accountants, and controllers, and as Academic Manager of SBE’s Thesis-Internship Program.His research focuses on corporate governance, with an emphasis on sustainable value creation and aligning stakeholder interests, including boards’ responsibilities in driving societal transformation. He has published in leading academic journals and contributed to commissioned research projects for organizations such as the Big Four accounting firms and the European Commission.Dr. Deumes earned his PhD at Maastricht University and teaches courses on corporate governance across undergraduate, graduate, and executive programs. He is also a subject editor for Maandblad voor Accountancy en Bedrijfseconomie and a member of the MSc Admissions Committee.

De betrokkenheid van het auditcomité op de auditkwaliteit

Het auditcomité is een belangrijk onderdeel van de huidige corporate governance. Ondanks de steeds strenger wordende regelgeving op het gebied van onafhankelijkheid en expertise, is het nog steeds onduidelijk waarom sommige auditcomités onderpresteren en hoe dit de effectiviteit van de externe accountantscontrole beïnvloedt. Wij stellen dat, naast het hebben van de juiste vaardigheden, de betrokkenheid van het auditcomité bij het auditproces cruciaal is voor de effectiviteit van de audit. Communicatie, vertrouwen, ondersteuning, macht en leiderschap zijn belangrijke kenmerken die van invloed kunnen zijn op de manier waarop het auditcomité omgaat met meningsverschillen tussen het management en de accountant, en in hoeverre het auditcomité beide partijen kritisch zal uitdagen. Deze ‘zachte’ dimensies zijn nog onvoldoende onderzocht. Er is meer inzicht nodig voor de praktijk, academici en toezichthouders over hoe de betrokkenheid van het auditcomité kan worden gestimuleerd en hoe de betrokkenheid het auditproces beïnvloedt. Wij willen aantonen dat een actief en betrokken auditcomité in staat is om synergie te creëren met de externe accountant, waarbij beide partijen op elkaar vertrouwen en elkaar steunen. Die synergie kan het auditproces en de auditkwaliteit naar een hoger niveau tillen.

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Audit committees and audit quality – a review of the literature

The purpose of this literature review is to provide an overview of the academic literature on the relationship between audit committees (ACs) and audit quality (AQ). The starting point for our review is the most recent comprehensive overview of literature on corporate governance research in accounting and auditing by Carcello et al. (2011a). We start from their findings and conclusions, and add our review of studies on the relationship between ACs and AQ for the most current period, starting with 2011. In doing so, we draw from the IAASB (2014) conceptual framework on AQ that presents the key input, process and output factors that contribute to AQ.

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The drivers and impact of audit committee involvement on audit quality

The audit committee is an important component of current corporate governance. Despite increasingly strict regulations regarding independence and expertise, it remains unclear why some audit committees underperform and how this affects the effectiveness of the external audit. We argue that, in addition to having the right skills, the audit committee’s engagement in the audit process is crucial for audit effectiveness. Communication, trust, support, power, and leadership are key characteristics that can influence how the audit committee handles disagreements between management and the auditor, and to what extent the committee will critically challenge both parties. These “soft” dimensions have not yet been sufficiently studied. More insight is needed for practitioners, academics, and regulators on how audit committee engagement can be encouraged and how this engagement impacts the audit process. We aim to demonstrate that an active and engaged audit committee can create synergy with the external auditor, where both parties trust and support each other. This synergy can elevate the audit process and audit quality to a higher level.

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Audit Committee Involvement and Audit Quality

The audit committee is a key feature of contemporary corporate governance. Despite ever-tightening regulation concerning its independence and expertise, it still is unclear why some audit committees underperform, and how this impacts the effectiveness of the external audit. We argue that, next to having the appropriate skills, audit committee involvement in the audit process is crucial for its effectiveness. Communication, trust, and support between the audit committee and the external auditor, as well as the power and leadership of the audit committee are key features which may affect how the audit committee deals with disagreements between management and the auditor, and to what extent it will critically challenge both parties. However, these “soft” dimensions are understudied, and more insight is valuable for practitioners, academics, as well as regulators on what triggers audit committee involvement, and how this feeds back into the audit process. We aim to demonstrate that an active, involved audit committee is able to create synergies with the external auditor, which can streamline the audit process and enhance audit quality.

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