Publication: İç denetim kalitesi ve risk yönetim sistemi etkinliğinin şirket performansına etkisi
Abstract
Araştırma, kaliteli iç denetim faaliyetleri ile etkin risk yönetim sistemlerinin mevcudiyetinin şirket performansı üzerinde etkisi olup olmadığının değerlendirilmesi maksadı ile gerçekleştirilmiştir. Hem ulusal hem de uluslararası literatürde konu ile ilgili kapsamlı bir çalışma bulunmadığından gerçekleştirilen araştırmanın alandaki önemli bir boşluğu dolduracağı ve bilimsel katkı sağlayacağı düşünülmektedir. Araştırmamız kapsamında, iç denetim kalitesine etki eden faktörleri belirlemek amacıyla, yapılan geçmiş araştırmalar incelenmiştir. Geçmiş araştırmalarda, iç denetim kalitesine etki eden bazı faktörler incelenmiş olmak ile birlikte bütüncül bir ölçüm modelinin olmadığı tespit edilmiştir. Bu sebep ile hem geçmiş araştırmaların üzerinde durduğu faktörler hem de henüz etkisi incelenmemiş, ancak iç denetim kalitesini etkileyebilecek faktörler birleştirilerek bütüncül bir yaklaşım ile değerlendirme sağlayacak, süreç odaklı bir ölçüm modeli oluşturulmuştur. Hazırlanan modelde, risk yönetim sisteminin etkinliğine yönelik ölçüm kriterleri ise COSO tarafından 2017 yılında yayımlanan “Kurumsal Risk Yönetimi - Riskin Strateji ve Performans İle Uyumlaştırılması” çerçevesi kullanılarak oluşturulmuştur. Halka açık şirket iç denetçilerine anket gönderilerek cevaplar alınmış ve alınan cevaplar üzerinden “iç denetim kalitesi” ve “risk yönetim sistemi etkinliği” değerlendirilmiştir. Şirket performansı ise şirketlerin Kamuyu Aydınlatma Platformu’nda yayınladıkları finansal bilgiler üzerinden değerlendirilmiştir. Ölçüm modeli olarak En Küçük Kareler Yöntemi - Yapısal Eşitlik Modellemesi (YEM) kullanılmıştır. Kaliteli iç denetim faaliyetlerinin, risk yönetim sistemi etkinliğini arttırdığı (olumlu) görülmüştür. Etkin risk yönetim faaliyeti ise şirketin performansını arttırmaktadır. İç denetim kalitesi ise doğrudan finansal performansı olumsuz etkilemektedir. Bu tespitin temel sebebi ise iç denetim faaliyetlerinin; iç kontrol, risk yönetimi ve yönetişim faaliyetlerini destekleyen, izleyen ve değer katma amacı ile oluşturulan sistemli faaliyetler bütünü olmasıdır. Dolayısı ile söz konusu faaliyetler olmadığında kaliteli iç denetimin finansal performans açısından sağlayacağı herhangi bir katma değer oluşamamaktadır. Araştırma bulguları bu durumun ispatını sağlayacak önemli bir tespit oluşturmuştur. En Küçük Kareler Yöntemi - Yapısal Eşitlik Modellemesi (YEM), değişkenlerin birbirleri üzerinden yarattıkları etkileşimi de incelemesi sebebi ile özellikle bu araştırmada kullanılmıştır. Araştırma kapsamında incelenen dolaylı etkilerde kaliteli iç denetim faaliyetlerinin, etkin risk yönetimi süreçleri aracılığı ile şirket performansını dolaylı yoldan pozitif etkilediği tespit edilmiştir. Araştırmada zaman kısıtı sebebi ile iç kontrol sistemi etkinliği ile kurumsal yönetim faaliyetlerinin, iç denetim kalitesi ve finansal performans ile etkileşimi incelenememiştir. Araştırma bu konu başlıklarının da ilerleyen aşamalarda incelenebilmesi için bir başlangıç oluşturacaktır.
The research was conducted to evaluate whether the existence of quality internal audit activities and effective risk management systems have an impact on company performance. Since there is no comprehensive study on the subject in both national and international literature, it is thought that the research carried out will fill an important gap in the field and make a scientific contribution. Within the scope of our research, previous studies were examined in order to determine the factors affecting internal audit quality. Although some factors affecting internal audit quality have been examined in previous studies, it has been determined that there is no holistic measurement model. For this reason, a process-oriented measurement model has been created that will provide evaluation with a holistic approach by combining both the factors that previous research has emphasized and the factors that have not yet been examined, but that may affect the quality of internal auditing. In the prepared model, measurement criteria for the effectiveness of the risk management system were created by using the “Corporate Risk Management - Harmonizing Risk with Strategy and Performance” framework published by COSO in 2017. Responses were received by sending questionnaires to public company internal auditors, and internal audit quality and risk management system effectiveness were evaluated based on the answers received. Company performance was evaluated on the basis of the financial information published by the companies on the Public Disclosure Platform. Least Squares Method - Structural Equation Modeling (SEM) was used as the measurement model. Quality internal audit activities have been shown to increase (positively) the effectiveness of the risk management system. Effective risk management activity increases the performance of the company. Internal audit quality directly affects financial performance negatively. The main reason for this determination is that the internal audit activities; It is a set of systematic activities that support, monitor and add value to internal control, risk management and governance activities. Therefore, in the absence of such activities, no added value can be generated by quality internal auditing in terms of financial performance. The research findings constitute an important finding that will provide proof of this situation. The Least Squares Method - Structural Equation Modeling (SEM) was especially used in this research because it also examines the interaction of variables over each other. In the indirect effects examined within the scope of the research, it has been determined that quality internal audit activities have a positive effect on company performance indirectly through effective risk management processes. Due to time constraints, the interaction between internal control system effectiveness and corporate governance activities, internal audit quality and financial performance could not be examined in the research. The research will be a starting point for examining these topics in the following stages.
The research was conducted to evaluate whether the existence of quality internal audit activities and effective risk management systems have an impact on company performance. Since there is no comprehensive study on the subject in both national and international literature, it is thought that the research carried out will fill an important gap in the field and make a scientific contribution. Within the scope of our research, previous studies were examined in order to determine the factors affecting internal audit quality. Although some factors affecting internal audit quality have been examined in previous studies, it has been determined that there is no holistic measurement model. For this reason, a process-oriented measurement model has been created that will provide evaluation with a holistic approach by combining both the factors that previous research has emphasized and the factors that have not yet been examined, but that may affect the quality of internal auditing. In the prepared model, measurement criteria for the effectiveness of the risk management system were created by using the “Corporate Risk Management - Harmonizing Risk with Strategy and Performance” framework published by COSO in 2017. Responses were received by sending questionnaires to public company internal auditors, and internal audit quality and risk management system effectiveness were evaluated based on the answers received. Company performance was evaluated on the basis of the financial information published by the companies on the Public Disclosure Platform. Least Squares Method - Structural Equation Modeling (SEM) was used as the measurement model. Quality internal audit activities have been shown to increase (positively) the effectiveness of the risk management system. Effective risk management activity increases the performance of the company. Internal audit quality directly affects financial performance negatively. The main reason for this determination is that the internal audit activities; It is a set of systematic activities that support, monitor and add value to internal control, risk management and governance activities. Therefore, in the absence of such activities, no added value can be generated by quality internal auditing in terms of financial performance. The research findings constitute an important finding that will provide proof of this situation. The Least Squares Method - Structural Equation Modeling (SEM) was especially used in this research because it also examines the interaction of variables over each other. In the indirect effects examined within the scope of the research, it has been determined that quality internal audit activities have a positive effect on company performance indirectly through effective risk management processes. Due to time constraints, the interaction between internal control system effectiveness and corporate governance activities, internal audit quality and financial performance could not be examined in the research. The research will be a starting point for examining these topics in the following stages.
Description
Keywords
Auditing, internal, Company Performance, Corporations, Denetim, iç, Enterprise Risk Management, Finance, Financial Performance, Finansal Performans, Internal Audit, Internal Audit Quality, İç Denetim, İç Denetim Kalitesi, Kurumsal Risk Yönetimi, Maliye, Management, Risk management, Risk Management System Effectiveness, Risk Yönetim Sistemi Etkinliği, Risk yönetimi, Şirket Performansı, Şirketler, Turkey, Türkiye, Yönetim