Abstract:
Abstract
The study dealt with the impact of audit risks on the credibility of
the reports and financial statement, where the problem of the study was
the reliance of internal and external users of financial statements in
particular on the information of the financial damage in the event of
errors and fundamental distortions that were not discovered in the
statements finance and relying on incorrect information in making
decisions and the consequent of wrong decisions which turn leads to
negative effects for society as a result of relying on inaccurate
information in directing investments and making economic decisions.
Where the following questions were asked:
Does developing a plan for the audit process reduce audit risk?
Does the relative importance of audit risk affect the credibility of reports
and financial statements?
The study was built on assumptions, the most important of which is
that there is a statistically significant relationship between planning the
audit process and the credibility of financial statements and reports.
There is also a statistically significant relationship between the
relative importance of audit risks and the credibility of financial
statements and reports. The study relied on multiple approaches,
including the historical approach, the descriptive analytical approach, and
the deductive approach.
The study reached a number of results, the most important of
which is that audit risks can be reduced by expanding the audit
procedures, and also one of the reasons for the fundament
misrepresentation in the reports and financial statement is the magnitude
of the risks, also the risk of significant and effective misrepresentation
can be reduced by measuring and examining the financial performance of
auditor, as well as the institution facing risks arising for information
technology. And the study recommended the necessity of distributing
audit tasks among the members of the work team, and also the need to
determine the quality of the risks to which the auditor is exposed. As well
as developing a general strategy for the review, as well as updating the
planning strategy for the review process
