The Role of Auditing in the Reliability of Financial Information (a Case Study of a Telecommunications Sector Company in Iraq)

Abstract

All economic organizations and establishments seek to achieve the best possible level of financial and economic performance, in order to be able to face intense competition with other establishments, and to reach a competitive advantage that raises the market share of the company or institution, and to achieve this, companies are interested in conducting a comprehensive and continuous audit of the organization’s financial and economic performance, so that it can to reach the best possible level . Economic establishments implement multiple policies and strategies, and follow means and procedures that help improve the quality of financial statements and reports, and through which financial statements can be shown in the best possible way to help make decisions related to future planning and forecasting of economic activity. Organizations are keen to apply auditing standards based on scientific methodology, which helps to avoid any financial and accounting imbalances or lapses that may lead to the preparation of questionable financial statements, which supports the decision-making process according to information validated and trusted. The problem of the study is to identify the extent of the ability of the accounting audit to improve the quality of the financial statements, and to obtain the best possible level of credibility of the financial information obtained through those reports and financial statements.