Audit Committee Formation: The Case of Poland

Purpose: This study investigates the determinants of audit committee (AC) formation in a semi-mandatory setting European economy, which ownership and control are predominantly hands families business groups, voluntary practice forming an AC has not been widely accepted. Methodology: research uses sample Polish nonfinancial firms listed on Warsaw Stock Exchange (WSE) 2008–2015. The implemented logistic regression to test role supervisory board (SB) companies’ compositional characteristics creation. Findings: Primary analysis provided evidence inverted association between commonly accepted – such as number independent members accounting finance expertise SB members. also revealed that companies with foreign more likely have AC. Originality: indicates important relationship existence other committees meaningful determinant formation. article is valuable for bodies regulators they provide insights into factors influence