An Investigating the Impact of International Financial Reporting Standards Adoption on Auditing

Document Type : Review Paper

Authors

1 Associate Professor of Accounting, University of Mazandaran, Babolsar, Iran

2 PhD Student of Accounting, University of Mazandaran, Babolsar, Iran

Abstract

The globalization leads to the optimal allocation of resources globally and provides possibility of global development. In this regard, the need for information for making economic decisions is indispensable. Accreditation of this information and assurance is part of this process. Accordingly, adoption of International Financial Reporting Standards is expected to have a significant effect on audit profession, since the adoption of international accounting standards will lead to professional audit reports become more objective and usage of the fair value basis makes that repots have an independent commentary Accordingly, the present study aims to review the effect of the adoption of international financial reporting standards in the audit areas. The findings show that the adoption of International Financial Reporting Standards in auditing, affects in several audit areas like the audit fee, audit choose, audit committee, and the specialization in audit industry and the audit report delays.  Undoubtedly, the awareness of these findings can, in addition to explaining the challenges ahead, equipped audit profession and make ready auditing professionals for such changes.

Keywords

References

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History

  • Receive Date: 27 May 2018
  • Revise Date: 11 August 2018
  • Accept Date: 11 September 2018

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