This work is licensed under a Creative Commons Attribution 4.0 International License.
Using the Expert Report to Strengthen the External Auditor’s Evidence/An Empirical Study in Iraq
American Journal of Economics and Business Management,
Vol. 7 No. 11 (2024): November
Abstract
The expert report represents the result of analysis and evaluation of financial and technical data and evidence related to the external audit. The expert report relies on its professional experience to analyze this evidence. The expert report aims to clarify the facts and evaluate the evidence in a comprehensive and systematic manner. Thus if enhance the strength of the evidence provided in the context of the external audit. The expert required when the external audit need engagement out of accounting and auditing. In audit, consequences of poor decision-making are significant. In this paper, the proposed method based on machine learning which was introduced to improve the ISA 620 standard for experts report by utilizing the respond from 25 external auditors using questionnaire. Logistic Regression model was used to analysis the importance and quality of expert report. The proposed method shows good result of accuracy based metric with (acc=100%) when applied the dataset came from questionnaire (training and testing stages). It is more contribute to enhancing evidentiary evidence and ensuring the quality of the external audit.
Keywords
Download Citation
Endnote/Zotero/Mendeley (RIS)BibTeX
- Afenya, M. S., Arthur, B., Kwarteng, W., & Opoku, P. (2022). The impact of audit committee characteristics on audit fees; evidence from Ghana. Cogent Business & Management, 9(1), 2141091.
- Baatwah, S. R., Ahmad, N., & Salleh, Z. (2016). Audit committee financial expertise and financial reporting timeliness in emerging market: Does audit committee chair matter. Issues in Social and Environmental Accounting, 10(4), 63-85.
- Axelsen, M., Green, P., & Ridley, G. (2017). Explaining the information systems auditor role in the public sector financial audit. International Journal of Accounting Information Systems, 24, 15-3.
- Ng, Y. F. (2019). In the moonlight?: The control and accountability of government corporations in Australia. Melbourne University Law Review, 43(1), 303-336.
- Dimitrova, J., Gorgieva-Trajkovska, O., & Kostadinovski, A. (2013). Experts inclusion in the audit for better audit reports. Јубилејна меѓународна научнопрактична конференција-Финансиите и финансиското сметководство-состојби, тенденции, перспективи, Стопанска академија Ценов, Свиштов, Бугарија, 2013.
- Zakari, M. (2013, September). Does Audit Evidence Type Effects on Quality of Auditor's Opinion?. In International Conference" Financial Distress: Corporate Governance and Financial Reporting Issues", Rome (Italy) October (pp. 17-18).
- Kok, M., & Maroun, W. (2021). Not all experts are equal in the eyes of the International Auditing and Assurance Standards Board: On the application of ISA510 and ISA620 by South African registered auditors. South African Journal of Economic and Management Sciences, 24(1), 1-13.
- Alsmady, A. A. (2022). Quality of financial reporting, external audit, earnings power and companies performance: The case of Gulf Corporate Council Countries. Research in Globalization, 5, 100093.
- Techncial article available at” https://www.acceglobal.com/student/student_accountant/article/archive/”,ACCA,May 2011.
- Meredith, K., Blake, J., Baxter, P., & Kerr, D. (2020). Drivers of and barriers to decision support technology use by financial report auditors. Decision Support Systems, 139, 113402.
- Augustine, O. E., Mgbame, C., Lucky, G. O., & Kuegbe, K. (2013). Impact of Audit Evidence on Auditor’s Report. Research Journal of Finance and Accounting. ISSN, 2222-1697.
- Yin, X. (2020). Audit Evidence Classification and Collection Techniques in China and the US. Global Journal of Management and Business Research, 19(5), 1-6.
- Niktaba, A., & Aslani, A. (2015). The Effect of Audit Evidence on the Auditor's Report. International Journal of Accounting Research, 2(6), 62-66.
- Zakari, M. (2013, September). Does Audit Evidence Type Effects on Quality of Auditor's Opinion?. In International Conference" Financial Distress: Corporate Governance and Financial Reporting Issues", Rome (Italy) October (pp. 17-18).
- Zuca, S. (2015). Audit evidence–necessity to qualify a pertinent opinion. Procedia Economics and Finance, 20, 700-704.
- Gospel, J., ORDU, P. A., BARIGBON, M., & NAMAPELE, A. (2019). Sufficiency and Appropriateness of Audit Evidence for Giving an Opinion on the True and Fair View of Financial Statements. International Journal of Innovative Development and Policy Studies, 7(3), 36-43.
- Agenda Item, D. (2009). IAASB CAG PAPER.
- Yassen, Samir Taha, and Seemaa Anmar Salim Alrefaee. "THE EFFECT OF FINANCIAL RATIOS ON BANK CREDIT FOR A SAMPLE OF IRAQI COMMERCIAL BANKS." Academy of Strategic Management Journal 21.4 (2022): 1-12.
- Yaseen, Samer Taha, and Shahad Bashar Mohammed. "Factors affecting the market value of the shares of a sample of companies working in the scientific field/an analytical study from 2015-2020." Res militaris 13.2 (2023): 3137-3149.
- Yaseen, Sameer Taha ,and Shahad Mofaq Al-Hamadane, , “Using Sherrod Model Indicators to Predict Financial Failure: Applied Research in the National Company for Tourism Investment in Iraq for the Period (2016-2021)”, Kurdish Studies, volume (12).No(1),ISSN (2051-4891), Jan 2024, pp.3475-3481,
- Yassin, A. P. D. S. T. (2020). Requirements for expansion of the professional services of the independent external auditor/An analytical study of the Iraq environment. Tikrit Journal of Administration and Economics Sciences, 16(50 Part 1).
References
Afenya, M. S., Arthur, B., Kwarteng, W., & Opoku, P. (2022). The impact of audit committee characteristics on audit fees; evidence from Ghana. Cogent Business & Management, 9(1), 2141091.
Baatwah, S. R., Ahmad, N., & Salleh, Z. (2016). Audit committee financial expertise and financial reporting timeliness in emerging market: Does audit committee chair matter. Issues in Social and Environmental Accounting, 10(4), 63-85.
Axelsen, M., Green, P., & Ridley, G. (2017). Explaining the information systems auditor role in the public sector financial audit. International Journal of Accounting Information Systems, 24, 15-3.
Ng, Y. F. (2019). In the moonlight?: The control and accountability of government corporations in Australia. Melbourne University Law Review, 43(1), 303-336.
Dimitrova, J., Gorgieva-Trajkovska, O., & Kostadinovski, A. (2013). Experts inclusion in the audit for better audit reports. Јубилејна меѓународна научнопрактична конференција-Финансиите и финансиското сметководство-состојби, тенденции, перспективи, Стопанска академија Ценов, Свиштов, Бугарија, 2013.
Zakari, M. (2013, September). Does Audit Evidence Type Effects on Quality of Auditor's Opinion?. In International Conference" Financial Distress: Corporate Governance and Financial Reporting Issues", Rome (Italy) October (pp. 17-18).
Kok, M., & Maroun, W. (2021). Not all experts are equal in the eyes of the International Auditing and Assurance Standards Board: On the application of ISA510 and ISA620 by South African registered auditors. South African Journal of Economic and Management Sciences, 24(1), 1-13.
Alsmady, A. A. (2022). Quality of financial reporting, external audit, earnings power and companies performance: The case of Gulf Corporate Council Countries. Research in Globalization, 5, 100093.
Techncial article available at” https://www.acceglobal.com/student/student_accountant/article/archive/”,ACCA,May 2011.
Meredith, K., Blake, J., Baxter, P., & Kerr, D. (2020). Drivers of and barriers to decision support technology use by financial report auditors. Decision Support Systems, 139, 113402.
Augustine, O. E., Mgbame, C., Lucky, G. O., & Kuegbe, K. (2013). Impact of Audit Evidence on Auditor’s Report. Research Journal of Finance and Accounting. ISSN, 2222-1697.
Yin, X. (2020). Audit Evidence Classification and Collection Techniques in China and the US. Global Journal of Management and Business Research, 19(5), 1-6.
Niktaba, A., & Aslani, A. (2015). The Effect of Audit Evidence on the Auditor's Report. International Journal of Accounting Research, 2(6), 62-66.
Zakari, M. (2013, September). Does Audit Evidence Type Effects on Quality of Auditor's Opinion?. In International Conference" Financial Distress: Corporate Governance and Financial Reporting Issues", Rome (Italy) October (pp. 17-18).
Zuca, S. (2015). Audit evidence–necessity to qualify a pertinent opinion. Procedia Economics and Finance, 20, 700-704.
Gospel, J., ORDU, P. A., BARIGBON, M., & NAMAPELE, A. (2019). Sufficiency and Appropriateness of Audit Evidence for Giving an Opinion on the True and Fair View of Financial Statements. International Journal of Innovative Development and Policy Studies, 7(3), 36-43.
Agenda Item, D. (2009). IAASB CAG PAPER.
Yassen, Samir Taha, and Seemaa Anmar Salim Alrefaee. "THE EFFECT OF FINANCIAL RATIOS ON BANK CREDIT FOR A SAMPLE OF IRAQI COMMERCIAL BANKS." Academy of Strategic Management Journal 21.4 (2022): 1-12.
Yaseen, Samer Taha, and Shahad Bashar Mohammed. "Factors affecting the market value of the shares of a sample of companies working in the scientific field/an analytical study from 2015-2020." Res militaris 13.2 (2023): 3137-3149.
Yaseen, Sameer Taha ,and Shahad Mofaq Al-Hamadane, , “Using Sherrod Model Indicators to Predict Financial Failure: Applied Research in the National Company for Tourism Investment in Iraq for the Period (2016-2021)”, Kurdish Studies, volume (12).No(1),ISSN (2051-4891), Jan 2024, pp.3475-3481,
Yassin, A. P. D. S. T. (2020). Requirements for expansion of the professional services of the independent external auditor/An analytical study of the Iraq environment. Tikrit Journal of Administration and Economics Sciences, 16(50 Part 1).