The impacts of Audit Committee Quality on Achieving the Purposes of Internal Control Affecting Financial Reporting

The purpose of this study is to examine the impact of Audit Committee Quality (ACQ) on achieving Internal Control over Financial Reporting (ICOFR) in short run. So, the current paper investigates the impact of ACQ on Financial Reporting Quality (FRQ) including Reliability, Relevance and Timelines of financial reporting and also final purpose of it that is Information Asymmetry (IA) as the final goal of financial reporting. Regarding the latent of ACQ and FRQ, this paper use structural modeling with OLS approach by Smart-PLS software. Findings indicate that ACQ reduces IA. However, there is no relationship between ACQ and FRQ. It was also revealed that FRQ reduces IA.