Internal Audit: The Audit Committee and the Good Governance Codes

Abstract

Since the introduction of the codes of good governance in Spain, companies have evolved and adapted to these codes and their recommendations in a progressive way. Focusing on the growth in importance of these codes of good governance and their recommendations addressed to the Audit Committee, the aim pursued by this study is to analyse and compare the typology and composition of the committee’s advisors, Reinforcing this part with an analysis by sector, taking into consideration the recommendations of the good governance code that have been in Spain and that are addressed to the audit committee. Undertaking an analysis of the evolution regarding the fulfilment of these recommendations by the companies in the IBEX. With this study, we can observe as over the years, companies have been adapting and how they have increasingly been following in a greater percentage the recommendations of the codes of good governance.