Department of Accounting & Information Systems

Course Name: Auditing & Assurance -2

(Course Code: 3104)
Proposal

Submitted to:
Kanon Kumar Sen
Lecturer
Department of Accounting & Information
Systems
Jahangirnagar University.

Submitted by:
Team Tycoons
Rayhana Akther -1757
Taohid Hossain - 1794
Anamul Hasan - 1783
Md. Hasanur Rahman Lovlu -1781
Imtiaz Hossain Zidan - 1779
Zannatul Nayeem – 1579
Badhan Saha - 1790

Date of Submission: 17-02-2023

Introduction:

Corporate governance is a comprehensive framework that covers virtually every aspect of

management, including action plans, internal controls, performance measurement, and corporate
disclosure. Its main purpose is to help companies achieve their objectives.
The audit process is a set of procedures that auditors use to conduct an audit engagement with their
clients.

A Corporate Governance Audit is a valuable approach that helps ensure that a corporation has
complied with all relevant laws and regulations, and has established appropriate internal control
systems, policies, and procedures to meet the interests of all stakeholders.
Accurate and reliable financial reporting is a critical component of effective corporate governance,
and the audit process plays a crucial role in providing an independent and objective evaluation of
a company's financial performance. This is important for ensuring transparency, accountability,
and building trust among stakeholders.
The research will be presented in the following sections. The next section will provide background
information on corporate governance and the audit process, and will discuss the research
objectives, literature review, methodology, and potential outcomes.

Research Objective:

We need to understand the importance of the audit process in the corporate governance. How to
ensure the interest of the current and future shareholders and investors by providing the audit report
by the auditor by following the audit process in the corporate governance. Importance of the
internal control systems in the corporate governance to obtain the appropriate audit report by the
auditor and to attain goals of the Corporation. Role of the auditors to obtain the new investors in
the corporate governance to promote the Corporation.

Literature Review:

Auditors can be considered as a part of corporate governance structure because they monitor the
quality of the financial reporting process to reduce the information asymmetry between managers
and stakeholders. Corporate governance has more influence when auditors are planning an audit
process (Fooladi & Farhadi, 2011).

In recent years of the importance of corporate governance in ensuring sound financial reporting
and deterring fraud. The audit serves as a monitoring device and is thus part of the corporate
governance mosaic (Cohen et all, 2002).
Saidi (2004) concluded that Corporate governance is the framework for managing businesses, and
it also states that the stockholders, the board of directors, and executives are all accountable for
good corporate governance. These organizations play a key role in the corporate governance
process as well.

Rezaee (2004) concluded that Instead of emphasizing on the idea of who is in charge and who is
competent, CG's primary objective is to emphasize responsible. In order to coordinate the concerns
of management, governors, and stakeholder, administration is responsible to the board of directors,
and the governing board is responsible to the stakeholders.

Methodology:

It was a descriptive research and hence much efforts have been given on collection of data &
analysis of data. The opinions on the practice of corporate governance and audit process the related
matter have been collected from the related research article, newspaper, magazines. The
methodology for corporate governance and audit process will involve a mix of qualitative and
quantitative research method. Data collection is one of the most important stage to conduct
research.

Sources of Data:

Primary Data: Data collected through observation survey in a natural setting from the original
source in a controlled environment or uncontrolled environment.
Secondary Data: Data obtained from secondary sources such as report, journals, documents the
web and more.

Probable Outcome:

Corporate governance and the audit process are critical components of the overall financial system.
the probable outcome on corporate governance and the audit process is likely to be increased
transparency, accountability, and accuracy. When Corporate governance structure will be effective
and efficient, then the auditors will rely more on management reports because of the lower risk in
the auditing.
Reference:
Masood Fooladi, Maryam Farhadi, International Conference on Humanities, Society and Culture
(ICHSC) Kuala Lumpur, Malaysia, November, 4-6, 2011.
Jeffrey Cohen, Ganesh Krishnamoorthy, Arnold M Wright, Contemporary accounting research
19 (4), 573-594, 2002.
Saidi. 2004. The factors that affect the capital structure in the manufacturing companies Go
Public in JSE Year 1997-2002. The Journal of Business and Economy. Vol.11, No.1, March
2004.
Rezaee, Z. (2004) Restoring Public Trust in the Accounting Profession by Developing Anti-
Fraud Education, Programs, and Auditing. Managerial Auditing Journal, 19, 134-148.