The effect of the level of auditor's practice of professional uncertainty on the soundness of his judgment on the material misrepresentations in the financial statements: an empirical study

Document Type : Original Article

Authors

1 Accounting Department Faculty of Commerce Alexandria University Alexandria Egypt

2 Accounting Department Faculty of Commerce Damnhour University Damnhour Egypt

Abstract

With the increasing complexity, globalization, uncertainty and dynamism of economic conditions, the needs and expectations of stakeholders regarding the integrity and reliability of financial reports are increasing.At the same time, financial reports are characterized by a wide range of professional judgments, future directions and personal assessments.In light of these developments, the audit profession, which Basically, credibility and reliability of financial reporting information - more critical than ever, in the efficiency and effectiveness of the capital market - quality audit is essential to achieve and maintain the quality and objectivity of financial reports and support investor confidence. Professional Judgment is the essence of the audit process, as it significantly affects its quality and is an essential means by which the auditor can control the non-sampling risk and its main source. If the evidence, analytical procedures and risk assessment are the cornerstone of the audit, Professional judgments are the important tool they form and connect them (Bell et al. 2005).

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