Variables

No.

Internal Audit

Effectiveness

(Dependent)

Poor Corporate Governance

(Independent)

Good Corporate Governance

(Independent)

1.

Access to all records and personnel

Appointment of Board and Audit Committee members outside the provisions of the statutes

Availability of

the Board Charter

2.

CAE appointment and remuneration

sanctioned by the board

Appointment of Board members without regard to qualifications, skills, and competencies

Availability of Code of Ethics

3.

Clearance of the Audit Committee Agenda and varying the budget and Internal audit activities by the CEO without board authority

Permanent Secretary as Chairman of the Audit Committee