A influência das características do conselho de administração, comitê de auditoria e conselho fiscal no audit delay

Abstract

Corporate governance is a set of measures that aims to increase the probability of the investor to have his return, it is necessary to have an incentive and control mechanism to minimize the losses caused by conflicts of interest between managers and investors. As examples of governance mechanisms it could be mention Administrative Council and Audit Committee. Another governance instrument is the Fiscal Council which is an independent supervisory agency of directorship and Administrative Council. The role of governance mechanisms is important in disclosure of information at the right time. Because financial information plays an important role related to the market and investors and the delay compromises the reliability in the company. Therefore, this research aimed to analyze the relation of the characteristics between Administrative Council, Audit Committee and Supervisory Board, about the audit delay. This is a descriptive research, of documentary nature and quantitative approach. The database composed of information from 2014, 2015 and 2016, that were obtained in BM&FBOVESPA Reference Form, corresponding to New Market segments, Level 1 and 2 of Corporate Governance. The sample is composed of listed companies in the three years analyzed that have Audit Committee. Financial companies were excluded because they comply with specific legislation. The results show that not all the analyzed characteristics are related to the audit delay. This delay can also be influenced by other characteristics, such as the control variables related to the audited company, to independent auditing and also by economic and financial indices.