THE IMPACT OF APPLYING THE JOINT AUDIT METHOD ON ENHANCING THE RELIABILITY OF FINANCIAL REPORTING

Abstract

 This study set out to determine the effect of the correlation between audit quality and joint audits to better understand how auditors might use the joint audit technique to improve the credibility of financial reports. The auditors in Iraq who possess licenses issued by the Council of Audit and Control Profession, 85 individuals with the precise scientific specialty (accounting) were selected for the study sample. As the questionnaire was stable and reliable, it was administered to the sample members in order to accomplish the research goals. The descriptive approach was chosen for this study since it was well-suited to the subject matter and aims.  By calculating a correlation coefficient 12.781, the research demonstrated that there is a strong correlation relationship between joint auditing and improving the reliability of financial reports. This lends credence to the idea that this method has a positive impact on audit results and financial report reliability.  Among the research's recommendations, the most crucial is that Iraqi audit offices and firms should increase their use of the joint audit method. The method has numerous advantages that benefit everyone involved in the audit, including restoring faith in the auditing profession, improving the reliability of financial reports compared to individual audits, and having a positive effect on stock prices, investor decisions, company value, and economic development.