The current state of internal audit effectiveness research: a bibliometric analysis

Research on internal audit effectiveness needs to be revisited to incorporate new changes and norms with the advent of Industrial Revolution 5.0 and the post-COVID-19 pandemic. These changes bring new risks to be managed that may impact the effectiveness of the organisation’s corporate governance. As an essential direction in internal audit studies, the research status of internal audit effectiveness urgently needs to be mapped. This paper aims to present the current state and issues of internal audit effectiveness worldwide by using a bibliometric analysis method to statistically analyse publications in the Scopus database. This research’s main concern is with the most highly cited publications that can extract the most popular research objectives. This research used the VOSviewer visualisation technique to present correlations with keywords to construct a research network. The findings show that the number of publications on internal audit effectiveness research has grown at a fast pace in the last five years. The research methods utilised are mostly based on structural equation models, followed by multiple regression models, and some new analysis approaches, such as decision tree and random forest models and textual mining, have emerged from information technology to accounting research. A deep review of 20 highly cited articles revealed that most of the empirical studies are based on the stakeholders’ perspective. Surprisingly, high productivity largely comes from Malaysia and Indonesia, which are categorised as developing nations, and emerging economies, as opposed to developed nations such as the United States of America and Britain, which normally have high research productivity.

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