On the basis of the performed tests

On the basis of the performed tests, it can be concluded that the average opinion of
internal auditors and members of the audit committee is that cooperation between the
internal audit function and the audit committee has a high influence on the increase of
the quality of the internal audit operations. Internal auditors and members of the audit
committee, on average, believe communication between the internal audit function and
the audit committee in a company is very good. In addition, it was confirmed that there
are no statistically significant differences in the quality of communication between the
internal audit function and the audit committee as graded by internal auditors and members of the audit committee, separately.
Table 16. Analysis of variance (ANOVA).
INFLUENCE_ ON_
QUALITY_IA Sum of squares df Mean square F Sig.
Internal auditor Between groups 1.719 2 0.859 1.231 0.307
Within groups 20.250 29 0.698
Total 21.969 31
Member of AC Between groups 7.896 2 3.948 9.293 0.001
Within groups 11.471 27 0.425
Total 19.367 29
Source: Author’s calculations.
Economic Research-Ekonomska Istraživanja 201
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In the context of testing the initial research hypothesis, that the efficiency of the
internal audit function is increased through its inclusion in activities of the audit committee, it was necessary to confirm whether there is a statistically significant correlation
between the quality of communication and interaction between the internal audit function and the audit committee, and the influence of the cooperation of the internal audit
function and the audit committee on the increase in the quality of the internal audit
operations. By taking into account the results of the performed tests, it can be concluded
that a greater quality of communication and interaction between the internal audit function and the audit committee in a company also means a greater influence of cooperation of the internal audit function and the audit committee resulting in an increase in
efficiency of the internal audit operations. The stated correlation is of the same intensity
from viewpoint of internal auditors on the one hand and members of the audit
committee on the other.
The objective of the research was to confirm that the delivery of the risk assessment
and related internal audit plan directly to the audit committee has an influence on the
improvement of the activities of internal auditing in a company. On average, all examinees believe that the cooperation between the internal audit function and the audit committee has relatively equal influence on the quality of the internal audit operations
regardless of whether the internal audit function directly delivers or does not deliver the
risk assessment and related internal audit plan to the audit committee.
The research has the objective of confirming that the use of information obtained
from the audit committee during risk assessment and developing the internal audit plan
improves the quality of the internal audit operations. It is concluded that the use of
information obtained from the audit committee during the risk assessment and developing the internal audit plan, for which the internal audit function is responsible, has an
influence on the improvement of the internal audit operations’ quality.
With the objective of confirming the initial research hypothesis, both internal auditors and members of the audit committee were tested regarding the influence of cooperation between the internal audit function and the audit committee on the quality of the
internal audit operations regarding communications and dialogue between the internal
audit function and the audit committee in a company, including about the adequacy and
sufficiency of the auditing resources. The members of the audit committee believe that
continued communication and dialogue between the internal audit function and the audit
committee, regarding the adequacy and sufficiency of auditing resources required for
achieving the functions and tasks of internal auditing, has a significant influence on
increasing the quality of the internal audit operations. From point of view of internal
auditors, communication and dialogue of the internal audit function with the audit committee regarding adequacy and sufficiency of auditing resources, does not have significant influence on the quality of their work, or it depends on it but not significantly.
Based on comprehensive conclusions, the research hypothesis can be completely
accepted, according to which the efficiency of the internal audit operations is increased
through an active inclusion of the internal audit function in the activities of the audit
committee