ENHANCING INTERNAL AUDIT QUALITY IN JORDANIAN INSURANCE COMPANIES A COSO FRAMEWORK PERSPECTIVE

Abstract

This study assesses the efficacy of the COSO framework in improving internal audit quality in Jordanian insurance firms across five dimensions: control environment, risk assessment, control activities, information and communication, and monitoring. Using a 36-item questionnaire distributed among 24 randomly selected companies, the research employs both descriptive and analytical methods, including multiple and simple linear regression through SPSS, on 193 valid responses. Results reveal a statistically significant (± ≥ 0.05) positive impact of the COSO framework on internal audit quality. The findings suggest a high adherence to COSO dimensions among Jordanian insurance companies, indicating a robust foundation for effective internal auditing practices within the industry.

Disclosure statement

No potential conflict of interest was reported by the author(s).

Acknowledgments

Utilized AI technology (OpenAI’s GPT-3.5) for efficient content development.

Additional information

Notes on contributors

Samer Alrahamneh

Samer Alrahamneh holds a bachelor’s degree in accounting and a master’s degree in accounting with honors. Currently, he is pursuing a doctoral degree at the Universidad de Extremadura in Spain, Department of Financial Economics and Accounting. His research interests lie in the fields of accounting, auditing, and artificial intelligence. Additionally, he is employed at the Jordanian Group Company Jordan Free and Development Zones Group in Jordan.