How Managers and Audit Committee Affect Internal Control Weakness

This paper assesses how the board, CEO, and audit committee's characteristics influence internal control weakness. In order to test the hypotheses, data of listed companies on the Tehran Stock Exchange during 2012-2016 are collected. Panel data analyses indicate that managerial education level and audit committee independence inversely influence internal control weakness. However, there is no significant relationship between managers' or audit committees' other characteristics and internal control weakness.