Review of Evidence about the Impact of IFRS on Auditing Profession

Document Type : Review Paper

Authors

1 Faculty member of Higher Education Complex of Saravan, Saravan, Iran

2 P.H.D stuent of Accounting, Azad University, Zahedan Branch

3 MS. in Accounting, University of Sistan and Baluchestan, Sistan and Baluchestan, Iran Corresponding Author

Abstract

In the past decade, financial reporting environment has undergone many changes internationally. Implementation of International Financial Reporting Standards is of the key changes in which many investment market scholars suppose that according capital market, and particularly international investment have been affected by IFRS in large-scale, but the implicit consideration is that the impact of adopting IFRS on auditing has been less respected by researchers, while regarding to the pervasive nature of adopting IFRS, it is expected that complexity of IFRS increases, thus leads to increasing auditing risk and consequently audit fees, hence the impact of the adopting will not be far-fetched over the company's financial reporting and auditing costs. Subsequently, this subject has raised concerns to prepare financial statements and get audit approvals for companies. While, according to the statement of Securities and Exchange Organization (SEO) in Iran, all registered issuers must provide audited financial statements based on IFRS from the beginning of the year 1395; thereby, the paper aims to consider previous and experimental evidence to reveal the impact of the IFRS adoption on auditing profession.

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Main Subjects

References

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Journal of Accounting and Social Interests
Volume 9, Issue 2 - Serial Number 33
September 2019
Pages 37-56

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History

  • Receive Date: 30 May 2017
  • Revise Date: 30 August 2017
  • Accept Date: 30 August 2017

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