THE ROLE OF AUDITORS' COMPETENCIES AND AGILE INTERNAL AUDITING ON THE EFFECTIVE FINANCIAL REPORTING: MODERATING ROLE OF FINANCIAL REPORTING STANDARDS

Abstract

International standards for effective financial reporting demand high requirements for auditor abilities, agile internal audits, and effective financial reporting standards. The current study examines the effects of auditors' abilities and agile internal auditing on the successful financial reporting of the German Volkswagen group of companies to highlight this phenomenon in recent literature. The essay also looks into how effective financial reporting, agile internal auditing, and auditors' competencies are affected by financial reporting standards. The study used primary data gathering methods, including questionnaires, to collect preliminary data from the internal auditors of the German Volkswagen group of enterprises. The PLS-SEM was also used in this paper to examine the variables' consistency, accuracy, and connection. The results showed a strong correlation between the German Volkswagen group of companies' effective financial reporting and the auditors' competencies and rapid internal audits. The results also showed that the financial reporting standards significantly influenced successful financial reporting, agile internal auditing, and auditors' competencies. According to the study, policymakers should use agile internal auditing and auditors' competencies to build policies for effective financial reporting.