A MODEL OF AUDIT COMMITTEE PERFORMANCE EVALUATIONIN IRAN CAPITAL MARKET

In recent years, the audit committee has played a key role in establishing and monitoring the corporate governance policies of publicly held corporation. Performance evaluating of the audit committee is an effective process for developing and improving the effectiveness of that committee. The committee should evaluate the effectiveness of itself performance and itself monitoring role.In this research, using the indicators and checklists used in evaluating the performance of audit committees in other countries and also according to the documents and conditions of the country, preparing and compiling indicators in the form of a questionnaire has been done and then in the first step, variables has been tested with using the viewpoints of professional and academic journalists, and in the next step, with using the viewpoints of the members of the audit committees of the companies accepted on the Tehran Stock Exchange and OTC, variables examination has been done.The results showed that in order to evaluate the performance of the audit committee in the Iranian capital market, the performance of the committee can be from eight main aspect including composition of committee members, committee powers, committee charter, committee meetings, business knowledge, monitoring, ethical principles and regulations and committee reporting, as well as their sixty-three sub-indicators, evaluated.Therefore, the self-assessment model was selected to evaluate the performance of the audit committee in the Iranian capital market, the preparation of a self-assessment questionnaire with the aspects and indicators resulting from this research as a proposed model was presented.