Search Results for international-auditing-standard-3410

Abstract

This research aims to analyze the extent of companies' compliance with International Auditing Standard 265 (ISA), which requires management to report deficiencies in the internal control system. The research focuses on the overlap of this standard with the elements of the internal control system according to the COSO model. It also studies the relationship between compliance with the standard and the efficiency of the control system, with a focus on the control environment, risk assessment, control activities, information and communication, and follow-up. The research reviews the challenges facing companies in implementing this standard. The research concluded that compliance with Standard 265 enhances the effectiveness of the internal control system. which enhances confidence in financial reports and reduces the chances of corruption and operational errors, and that failure to identify objectives and analyze risks leads to major gaps in internal control systems, and that relying on risk assessment principles in the COSO framework enhances banks' ability to identify weaknesses and material risks and address them effectively. and provides recommendations to enhance its implementation by encouraging internal and external communication through establishing effective communication channels within the banking sector for the purpose of accurately transmitting information and improving the communication process with external parties with the aim of ensuring that all parties are committed to their responsibilities

Abstract

The emergence of integrated reporting on global warming represents an important evolutionary stage in the auditing profession, as the auditor has moved from his traditional role of examining or auditing information or pre-prepared lists with a specific financial formula to granting a certificate of confirmation in the preparation of this information or financial and even non-financial statements. This certificate (report) is distinguished by some specificity from the conventional audit report, as assurance services fall between the level of absolute assurance and the lack of assurance, and it contains a wide range of services that do not differ from the two types of reasonable assurance and limited assurance. Specialized professional organizations, including the AICPA, have issued a group Among the standards for these services in order to rationalize their practical application, and I found many obstacles that could face the process of preparing integrated reporting on global warming in the local environment. The researcher adopted the descriptive analytical approach in the theoretical framework, as well as collecting data about the work environment and then analyzing it in the applied framework. This is done by taking advantage of the SPSS program for statistics, as well as the analytical method using it on a sample of data issued by oil refineries. The sample was estimated at the refineries of Shuaiba and Doura. The researcher reached results, the most notable of which is that there are no appropriate controls for preparing integrated reporting, as there is a difference in views about the suitability of the IR framework. As a criterion for assurance, and in particular, current assurance standards, most notably the International Standard for Assurance ISAE 3410, The research community consists of the Daura and Shuaiba refineries in Iraq. The research sample comprises 140 employees working at the Daura and Shuaiba refineries. The researcher used both the survey questionnaire (paper and electronic) and the model reports as tools. In this context, the questionnaire form was distributed to the research sample, require appropriate controls to evaluate the subject matter of an assurance engagement and the practitioner provides reasonable or limited assurance regarding the extent to which the subject matter is compatible with a specific basis, and the researcher concluded that: The high cost of preparing the integrated report compared to its benefits. The cost is also considered a major obstacle to making the entire integrated report the subject of a confirmation engagement (IIRC 2015). Confirming the entire integrated report requires the participation of multiple experts, which will make the engagement very expensive.

There is a difference in the level of credibility and reliability provided by integrated reporting compared to auditing, as integrated reporting does not provide the same level of credibility and trust provided by auditing financial statements. This is due to various reasons, including that integrated reporting is less quantitative and more qualitative in nature. The new form of assurance may fail to have the same confidence as an audit of financial statements. As a result, before embarking on making radical changes in current assurance models, sufficient time must be given. To refine its integrated reports and deal with stakeholders to determine the extent of the actual need for external confirmation, and the diversity of the nature of integrated reporting mechanisms, as the integrated nature of reporting processes and the many types of information reported require innovative forms to enhance credibility that can accommodate the link between the various components of integrated reporting. The researcher presented a main proposal to overcome the obstacles in integrated reporting of global warming, as she recommended that concerned parties adopt strategies such as strengthening cooperation and partnerships with other parties, providing training and continuous development for employees, and improving internal systems and processes to facilitate the reporting process.

Abstract

The study dealt with diagnosing the quality of the external auditor's performance in view of international auditing standards and external environment variables. The study was based on a main hypothesis that states “the process of raising the quality of the external auditor’s performance and ensuring the fairness and objectivity of professional opinion within the auditor’s report that reflects the essence of control practices requires professional, technical and strict adherence to international auditing standards with consider the integrate with the external environment variables surrounding the entity subject to auditing" . In order to achieve the objectives of the study and test the validity of the hypotheses related to it, the researcher adopted the descriptive (correlational) approach, which aims to know the size and type of relationship between the variables, that is, to what extent the study variables are related to each other, sub-hypotheses were derived, which confirm the existence of a moral correlation with statistically significant between the international auditing standards and quality of the external auditor's performance, the external environment variables and quality of the external auditor's performance. This requires adoption a number of tools, including formulating and designing the questionnaire form in an accurate manner and making use of some previous studies in the process of designing that questionnaire in order to cover all study variables in a way that represents the study community correctly.
The study reached a set of conclusions and recommendations, the most important of which are , one of the most important determinants of the success of external audit practices and achieving quality in the auditing performance is that the task must assign to a professional and competent external auditor possessing a number of personal qualities , scientific and professional qualifications, including integrity, objectivity and transparency in expressing a professional opinion , as addressed by the international auditing standard that requires exercising professional care, availability of skill, competence and training in the external auditor, he must possess the ability to understand international auditing standards and the conditions for their application, possess impartiality in the process of gathering evidence, familiarity with the affairs of the entity subject to auditing and the nature of its relationship with other external bodies. He must also possess a tendency of professional skepticism, which indicates alertness to cases that may indicate the possibility of a misrepresentation due to an error or fraud and critical evaluation of evidence , In addition to these features, the external auditor requires accuracy in determining the entity to which the auditor’s report are directed and justice in formulating this report as it is considered a link between the auditor and the needs and requirements of many users, including senior management, investors and creditors, in order to contribute to strengthening corporate governance and facilitate the process of making decision.

Abstract

The research aims to bring together work offices and adjust certain machine and system settings and their relationship to security elements to ensure the quality of integration services in the field. We investigated the following hypothesis: "There is no significant correlation or influence between the application of the International Auditing Standard (ISA220) and its validity."

The researchers prepared the practical aspect of the research by distributing (98) questionnaires to a number of auditors in private audit offices and companies, in order to determine the extent of the relationship and impact achieved by the policies and procedures of the quality control standard in enhancing competitive advantage. One of the most prominent conclusions is that the adoption of the ISA 220 standard by audit offices represents a key factor in achieving competitive advantage, as it contributes to raising the level of audit quality and reducing risks.