Table A1 Rotated component matrix for...

Table A1

Rotated component matrix for audit committee effectiveness

Statement	Component
Statement	Review of sustainability information and supervision of internal audit	Liaison with external auditors
Our audit committee develops an understanding of the economic substance of unusual transactions	0.894
Our audit committee reviews the internal audit report of this financial institution	0.868
Our audit committee reviews the internal audit programs of this financial institution	0.866
Our audit committee reviews financial and other non-financial information	0.854
Our audit committee advises on the application of accounting policies	0.831
Our audit committee makes recommendations on our sustainability information	0.824
Our audit committee ensures that the internal audit function of this financial institution is adequately staffed	0.822
Our audit committee reviews information on corporate social responsibility	0.797
Our audit committee has the financial expertise to review the corporate financial information	0.779
Our audit committee reviews any significant control deficiencies identified by the internal auditor	0.766
Our audit committee holds meetings coordinating the internal and external auditors		0.888
Our audit committees discusses with the external auditor matters of quality reporting		0.866
Our audit committees form a forum to link the directors with the external auditors		0.826
Our audit committee ensures that the internal audit function of this financial institution is adequately staffed		0.822
Our audit committees handles complaints of external auditors		0.796
Our audit committees determines the nature of the external audit		0.767
Eigen values	11.465	1.386
Cumulative percentage	45.085	40.587
Percentage of variance	45.085	85.672

Statement	Component
Statement	Review of sustainability information and supervision of internal audit	Liaison with external auditors
Our audit committee develops an understanding of the economic substance of unusual transactions	0.894
Our audit committee reviews the internal audit report of this financial institution	0.868
Our audit committee reviews the internal audit programs of this financial institution	0.866
Our audit committee reviews financial and other non-financial information	0.854
Our audit committee advises on the application of accounting policies	0.831
Our audit committee makes recommendations on our sustainability information	0.824
Our audit committee ensures that the internal audit function of this financial institution is adequately staffed	0.822
Our audit committee reviews information on corporate social responsibility	0.797
Our audit committee has the financial expertise to review the corporate financial information	0.779
Our audit committee reviews any significant control deficiencies identified by the internal auditor	0.766
Our audit committee holds meetings coordinating the internal and external auditors		0.888
Our audit committees discusses with the external auditor matters of quality reporting		0.866
Our audit committees form a forum to link the directors with the external auditors		0.826
Our audit committee ensures that the internal audit function of this financial institution is adequately staffed		0.822
Our audit committees handles complaints of external auditors		0.796
Our audit committees determines the nature of the external audit		0.767
Eigen values	11.465	1.386
Cumulative percentage	45.085	40.587
Percentage of variance	45.085	85.672

Note(s): Kaiser – Meyer – Olkin Measure of Sampling Adequacy = 0.936; Approx. Chi square = 1399.118; df = 105; Sig = 0.000

Extraction Method: Principal Component Analysis

Rotation Method: Varimax with Kaiser Normalization

Source(s): Primary data

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