International Journal of Finance & Managerial Accounting

International Journal of Finance & Managerial Accounting

Developing a Financial Performance Evaluation Model for Companies with a Focus on Audit Committee Structure

Document Type : Original Article

Authors
Ramin Zamani Amughein 1
Ali Asghar Anvary Rostamy 2
Maryam Khalili Araghi 3
Ali Saeidi 4
1 PhD Student, Department of Accounting, Faculty of Management and Economics, Science and Research Branch, Islamic Azad University, Tehran, Iran.
2 Professor of Finance, Tarbiat Modares University, Tehran, Iran. Jalal AleAhmad, Nasr, Tehran, Iran,
3 Department of Business Management, Faculty of Management and Economics, Science and Research Branch, Islamic Azad University, Tehran, Iran.
4 Associate Professor, Department of Management, North Tehran Branch, Islamic Azad University, Tehran, Iran.
10.22034/ijfma.2025.78678.2291
Abstract
The audit committee represents a specialized and independent arm of the board of directors, established to reinforce oversight functions within the organization. Its responsibilities span the evaluation of financial reporting quality, the verification of auditor independence and effectiveness, the inspection of internal controls, and the supervision of corporate risk-handling frameworks.This research sets out to construct a model for evaluating firms' financial performance, centering on the configuration of the audit committee and integrating the intermediary effects of intellectual capital, financialization, and moral hazard. The proposed conceptual framework is tested through Partial Least Squares Structural Equation Modeling (PLS-SEM).Financial performance is gauged using metrics such as Return on Assets, Risk-Adjusted Rate of Return and Economic Value Added . Meanwhile, moral hazard is represented by indicators like insufficient investment and inadequate managerial effort. Findings reveal that audit committee attributes specifically its size, degree of independence, and members’ financial expertise play a significant role in enhancing firm financial outcomes. These improvements occur via the expansion of intellectual capital, the rise in financialization activities, and the reduction of moral hazard risks.
Keywords
Audit Committee Structure
Financial Performance
Intellectual Capital
Moral Hazards
Financialization
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