European Journal of Accounting, Auditing and Finance Research (EJAAFR)

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Audit Committee and Performance: Evidence from Kenyan Deposit Taking Saccos


This research examined the effect of Audit committee characteristics on performance of Deposit Taking Saccos in Kenya. Audit committee characteristics was measured by independence, terms of service and study specialization as proxy. The study was guided by the Agency Theory and adopted descriptive cross-sectional survey and correlational research designs. A sample size was 108 licensed Deposit Taking Saccos drawn from a target population of 175. Primary data was collected from the board members and management executives. The analysis was done using descriptive statistics and multiple regressions. The study findings suggest that the overall correlation coefficient for Audit Committee characteristics and performance was found to be 0.144 with a p-value of 0.143> =0.05. This implies a weak positive and insignificant relationship between Audit Committee characteristics and performance. Based on findings, the study recommends proper constitution of audit committee with well spelt out terms of service and a consideration be made on appropriate study specialization. Independence of audit committee must be complied with to ensure conformity to best standards of practice. Areas for further studies suggested are conducting studies in other contexts to corroborate these findings and consideration of effect of other variables of Audit Committee characteristics on the performance.

Citation: Ncurai, D.M., Oloko, M., Rambo, C.M. (2023) Audit Committee and Performance: Evidence from Kenyan Deposit Taking Saccos, European Journal of Accounting, Auditing and Finance Research, Vol.11, No. 4, pp.47-59

Keywords: Performance, SACCOS, audit committee characteristics

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