Modeling the Auditing Committees Effectiveness based on grounded theory

Audit committees are considered as one of the effective tools to improve financial reporting and greater transparency in information and financial reporting of companies. An effective audit committee is considered as a determining factor in the governing pillars of the firm. The best use of it can be considered for the company. For this purpose, in this study, a model for the effectiveness of audit committees has been presented. The foundation method has been used to achieve the research goal. To this end, we conducted semi-open interviews with capital market experts and financial experts, and went so far as to saturate the number of interviews. In this study, 13 people saturated the level of interviews.According to the interview process and the selection of the community of experts and then the analysis of the interview through open and axial and selective coding, we finally have access to a model with specific criteria. The results showed that the audit committee is influenced by various causal factors, including the conditions of the audit committee, the rules governing the audit committee and cultural characteristics, which if used properly, we will see more effective audit committees in society.