There have been continuous studies conducted on Internal Audit Effectiveness (IAE) for many years. Referring to literature regarding the concept, it was observed the area of research on the influence of management support and internal audit characteristics (IAC) namely objectivity, independence, effective communication, and competencies on IAE context remained underexplored in developing countries. Whereas, management support is tested as a moderator due to its significance, particularly in internal auditing. In addition, most studies conducted in Malaysia on IAE mainly focusing on public sector and very limited studies conducted on private sector setting. To answer the consequence of research gaps, this conceptual paper proposes the effects of objectivity, independence, effective communication, and competencies through management support as a moderator to measure IAE in Malaysia. Hence, this research use Agency and Contingency Theory. The conceptual paper focused on private sector banking industry in Malaysia. The research philosophy that will be adopted is positivistic approach to test the formulated hypotheses empirically. This research is expected to use quantitative analysis approach and survey strategy whereby an established measurement tools adopted for each construct is adapted in the conceptual model. The questionnaire results will be analysed using SPSS software.
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