The effect of practicing professional skepticism on the quality of auditor's performance

Abstract

This research aims mainly to determine the impact of the existence of an  impact between the components of the audit risk and the quality of the audit,  and the research began with a major problem that included several questions  revolving around the nature of the affective relationships between the variables  in the field, although international auditing standards oblige the auditor to  design the audit process in a way that ensures reasonable assurances about the  discovery of material errors, in order to reduce the audit risks that surround the  institution under audit, and the components of audit risks can be expressed in  (detection risks, risks control, acceptable audit risks and inherent or inherent  risks), Which represents the audit risk model that reveals to the auditor the  various risks that he is willing to bear and has adopted the descriptive  analytical approach as a basic approach in the research, the audits were  studied in one of the audit companies approved by the Markets and Securities  Commission in Iraq. Audit data was used from audits conducted over a  specified period of time, from 2018 to 2019. The audits of 25 clients spread  across six different sectors were studied. The research aims to analyze financial  statements, audited reports and audit risk levels, maintaining the confidentiality  of the company name, the names of the customers included in the study and the  data used in the company's working papers. Through the research, many  conclusions were reached, the most important of which was that the use of  financial indicators and the focus on the quality of auditing contribute to  enhancing the effectiveness of the auditor's opinion and improving the  continuity of audited clients. The company's high audit quality level also reflects  its dedication to providing professional and reliable services to its clients. The  research came out with a set of recommendations, the most important of which  is the need for the Securities and Financial Markets Commission in Iraq to pay  serious attention to the quality of audits and link them to the risks facing  financial reports.