Using Risk – Based Audit Approach for Auditing Accounting Estimates and its impact on the Audit Quality: an Empirical Study

المؤلفون

1 قسم المحاسبة والمراجعة كلية التجارة جامعة المنوفية

2 قسم المحاسبة والمراجعة کلية التجارة جامعة المنوفية

المستخلص

The main objective of this study is to determine the impact of using risk – based audit approach for auditing accounting estimates on the audit quality of the annual financial reports published for a sample of companies registered on the Egyptian Stock Exchange. To do so, quality of discretionary accruals is measured to decide on the audit quality by conducting an applied study on some companies listed on the Egyptian Stock Exchange during the period of 2015 - 2021 in light of a set of control variables which are: auditor's industrial specialization who audits these companies, the size of the company, audit offices size which audits these companies, financial leverage, and the operating cash flow rate. The finding of the study indicated that there is an effect of using risk – based audit approach for auditing accounting estimates effectiveness on the audit quality for the companies under study. The most important study recommendation indicated that: The authorities responsible for setting the Egyptian auditing standards adopt what is stated in the International Standard on Auditing No. (540) for the year of 2019 regarding using risk – based audit approach for auditing accounting estimates, to keep pace with professional developments at the international level, and work to avoid the shortcomings that the current auditing standard suffers from achieving audit quality.

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