Libor Scandal: Barclay Bank
Literature Review
This study provides an assessment of UK based firms in determining the effect of corporate governance and firms performance on audit risk. Many research studies have identified that corporate governance affects the manner in which the management uses the resources allocated to them. In particular, these studies have identified that corporate governance influences the readability of audit reports, the formation of audit committees, the composition of the board of directors, and the formation of the internal audit team. Performance of the organization has an impact on the level of inherent risks. These issues, which are influenced corporate governance and firm performance, have a direct and indirect effect on audit risks.
 
Libor Scandal: Barclay BankThe Effects of Corporate Governance and Firms Performance on Audit Risks
Literature Review
This study provides an assessment of UK based firms in determining the effect of corporate governance and firms performance on audit risk. Many research studies have identified that corporate governance affects the manner in which the management uses the resources allocated to them. In particular, these studies have identified that corporate governance influences the readability of audit reports, the formation of audit committees, the composition of the board of directors, and the formation of the internal audit team. Performance of the organization has an impact on the level of inherent risks. These issues, which are influenced corporate governance and firm performance, have a direct and indirect effect on audit risks.