Original Research

Convergence towards internal audit effectiveness in the BRICS Countries

Karin Barac, Philna Coetzee, Marianne van Staden
Journal of Economic and Financial Sciences | Vol 9, No 2 | a61 | DOI: https://doi.org/10.4102/jef.v9i2.61 | © 2017 Karin Barac, Philna Coetzee, Marianne van Staden | This work is licensed under CC Attribution 4.0
Submitted: 18 December 2017 | Published: 11 August 2016

About the author(s)

Karin Barac, Department of Auditing, University of Pretoria, South Africa
Philna Coetzee, Department of Auditing, University of South Africa, South Africa
Marianne van Staden, Department of Auditing, University of South Africa, South Africa

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Abstract

Internal auditing has been called upon to enhance its value proposition for organisations and one way of doing this is to demonstrate its effectiveness. By using the responses of participants from the BRICS countries on the 2010 global Common Body of Knowledge survey of the Institute of Internal Auditors in conjunction with the elements of the Internal Audit Capability Model this study examines the convergence towards internal audit effectiveness by the BRICS countries. The study uses a neo-institutional perspective to demonstrate how internal auditing in the BRICS countries has responded to coercive, normative and mimetic pressures to demonstrate effectiveness. The study shows that coercive pressures for internal auditing exist in all the BRICS countries, but owing to the voluntary internal audit structure in Russia, such pressure appears to be lower in that country. Using professionalism to demonstrate normative pressures, the emphasis on internal audit in the King III report of South Africa was evident. The results of this study seem to indicate that South Africa has responded more to mimetic pressures in relation to people management, professional practices and organisational relationships than other BRICS countries.

Keywords

Internal audit effectiveness; BRICS; coercive pressures; normative pressures; mimetic pressures; Internal Audit Capability Model; Common Body of Knowledge

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