Abstract:
The reason for writing this paper is to provide bits of knowledge regarding the
effectiveness and validity of internal corporate governance practices in corporate
governance measures of Pakistani banking sector. The present obligations and
responsibilities of internal corporate audit and its implication on corporate governance
characteristics are determined and estimated. To get the data for the same, survey was
conducted through questionnaire related to the same domain of banking sector. The
questionnaire's questions were based on three main entities: 1. the efficacy of internal
corporate audit in relation to top management for corporate governance measures; 2. the
audit department in terms of competencies and resources for effectively coping up with
audit; and 3. the activities related to managing the risk in banking sector. The results of
this study indicate very important and significant results regarding the implication of
internal corporate audit in corporate and organizational governing measures. The
outcomes cater significantly valuable parameters for all the stakeholders of the banking
sector of Pakistan. Besides, this research provides valuable insight into the utility of
internal corporate auditors and committees. The external auditors' roles can be easily
redefined in terms of corporate governance due to the given study.