INTERNAL AUDIT PROFESSIONALISM AND FIRM SURVIVAL: AN EMPIRICAL EXAMINATION OF HOTEL BUSINESSES IN THAILAND

ABSTRACT The objective of this study is to examine the relationships between internal audit professionalism and firm survival through the mediating effect of risk control efficiency, financial information transparency and corporate governance. In addition, the association of internal audit learning, employee comprehensive knowledge, internal audit ethics, and environmental uncertainty with internal audit professionalism is investigated through internal audit experiences as moderators. Internal audit professionalism focuses on organizational level, consisting of best internal audit practice, professional moral mindset, audit responsibility awareness and stakeholders need concern. The instrument used was a questionnaire for data collection. Here, 125 internal audit directors or internal audit managers from business hotels in Thailand were selected as key informants of this study. The results present that internal audit professionalism as a positive effect on firm survival. Keywords Internal Audit Professionalism; Best Internal Audit Practice; Professional Moral Mindset Audit Responsibility Awareness; Stakeholders Needs Concern; Risk Control Efficiency; Financial Information Transparency; Corporate Governance Achievement; Firm Survival; Internal Audit Learning; Employee Comprehensive Knowledge; Internal Audit Ethics; Environmental Uncertainty; Internal Audit Experience