Compliance of Food and Beverage Companies as to the Requirements of Internal Audit

This study assesses factors influencing Internal Audit Quality (IAQ) in Greece. Hand-collected data were obtained from 2013 and 2014 annual financial reports from companies such as food industries, beverage –and their subcategoriesindustries as well as fishing and distillation, listed in Athens Stock Exchange (ASE). Previous literature was chosen in order to highlight significant independent variables. Linear regression analysis examines the association between Internal Audit Compliance (IAC) and seven principal factors. In order to define IAC we consider the compliance of an internal audit function analyzing in operational aspects such as the Segmentation of Duties and the Professional Competence and Knowledge Adequacy. The results found indicate Internal Audit Compliance, on a sample of Greek listed firms; have significant associations between the degrees of compliance to some external audit variables.