The impact of the mandatory adoption of IFRS/IAS Standards on the Complexity of the Audit Task and its Implications for Irregular Audit Practices. An Analytical Study of the Opinions of a Sample of Academic and Professional Accountants in the Kurdistan Region of Iraq
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Abstract
The research aims to determine the effect of mandatory adoption of (IFRS/IAS) standards on the audit task complexity, and its reflection on irregular auditing practices in the Iraqi Kurdistan Region, due to the complex nature of these standards, and the lack of experience and necessary skills of their application, through the research problem, which indicates that obligating economic units in the region to adopt (IFRS/IAS) standards in the absence of requirements for their application results in great pressures on the auditing profession, and leads to complicate the audit task, which may lead the external auditors to Engaging in irregular auditing practices. In order to reach this goal, the opinions of a sample of academic accountants (university lecturers) and professionals (external auditors) in the Iraqi Kurdistan Region were surveyed, who numbered (168) individuals, questionnaire forms were distributed, and the results were analyzed using The Statistical Package for Social Sciences (SPSS) program.
The research reached a set of conclusions, the most important of which is that (IFRS/IAS) standards are characterized by a complex nature and require the presence of high capabilities for their interpretation and application. and obligating economic units in the region to adopt them creates pressure on external auditors in terms of the complexity of the audit task, and makes them engage in irregular auditing practices.
The research suggested that the Scientific Association of Certified Public Accountants and the Syndicate of Accountants and Auditors in the region should intensify hold scientific symposia, workshops, and training and educational courses on those standards, as well as enhancing the reputation of the auditing profession in the region by imposing penalties and fines on external auditors who are proven to practice the Dysfunctional audit behavior and irregular auditing practices.