Do Characteristics of Internal Audit Directly Affect the Performance of Saudi Financial Sector

One of the top methods generally utilized by the administration to verify internal control function is internal audit and,
in this study, the primary objective is to examine the direct internal audit determinants that influence the financial
sector of Saudi listed firms. The study sample comprised of financial sector firms including banks and insurance
companies for a span of 4 years, using a panel data approach to test the independent-dependent variables
relationships. The study combined data from the listed companies’ data with the information provided by their
annual reports and corporate annual reports. This paper revealed that internal audit size and internal audit
professional certificate has a positive and significant association with performance. In sum, this paper provides
descriptive information concerning internal audit usage. Finally, this study provided some implication and suggestion
for future researchers as provided at the end of this paper.