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Internal Audit after Maxwell and BCCI: Public Responsibility versus Loyalty to the Organization

Managerial Auditing Journal

ISSN: 0268-6902

Article publication date: 1 April 1992

Abstract

Discusses the BCCI scandal, with particular reference to the part played by auditors Price Waterhouse. Declares the IIA Position Paper on Whistleblowing to be inadequate and urges reform of corporate governance: the selection and training of non‐executive directors must be improved and their role enhanced; an audit committee should be compulsory in areas of public exposure and concern; external audit should include in its remit the adequacy of internal audit and both should be mandated to report irregularities to the appropriate regulatory bodies.

Keywords

Citation

Vinten, G. (1992), "Internal Audit after Maxwell and BCCI: Public Responsibility versus Loyalty to the Organization", Managerial Auditing Journal, Vol. 7 No. 4. https://doi.org/10.1108/02686909210012798

Publisher

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MCB UP Ltd

Copyright © 1992, MCB UP Limited