An Outline of the Growth of Jordan’s Stock Exchange and the Enhancement of Auditing Standards

Abstract

The study examines “Middle Eastern (ME)” auditing from the early 20th century. The study uses Jordan to highlight the profession’s development and its relationship to ME politics, economics, and culture. Jordan’s geographical location, few natural resources, and bordering countries prompted economic changes and auditing profession growth. The profession’s development is examined concerning the Jordanian capital market and normative documents. The country’s auditing profession is impacted by its heavy reliance on foreign investment. Economic liberalization and prosperity until 2008 boosted accounting and auditing in Jordan. Financial services’ strong position is due to public-private collaborations, free-trade zones, IT-industry investments, and infrastructure. Current developments in Jordan influencing auditing regulation and profession are highlighted in this paper.