Younis Ahmed Al-Mohammadi and Ahmed Fadhil Naji
This study aims to identify the importance of the presence of audit committees in government units. It also aims to find field evidence of the impact of these committees on the quality of professional performance of the bodies of the Federal Financial Supervision Bureau. The research is important because of the scarcity of research that shed light on the role played by the audit committee. It also highlights the oversight role of these committees in the event of their creation in government units. This work aims to test the hypothesis of field research in the Iraqi environment, which would contribute to enriching the accounting thought on the one hand, and pushing towards activating the creation of these committees in the Iraqi government units on the other hand. There is a big interest in the role that the Audit Committee can play in examining the finance and economy of companies, projects and government units. However, there is no clear definition of the dimensions of this role with regard to the economic activities practiced by the Audit Committee to achieve the quality of professional performance of the oversight bodies in the Oversight Bureau Federal Finance in Iraq. According to the aims of the research, the study adopts the descriptive-analytical approach, in order to determine the impact of the formation of audit committees in government units in raising the quality of professional performance of the employees of the Federal Financial Supervision Bureau bodies by designing a questionnaire prepared for this purpose. The study came finds that activating the audit committees in government units will lead to an increase in the effectiveness of internal audit and work to improve and develop it. Furthermore, it improves the quality of the professional performance of financial control bodies, and then increases the effectiveness of the oversight cycle. The regulations and instructions should include an obligation to the audit committees in government units. The study is conducted on the local businesses environment that do not keeping pace with the changes taking place in the business environment in audit committees and limiting their work to traditional aspects.