The Impact of the Requirements of International Audit Standard No (300): Planning for Auditing Financial Statements on the Quality of the Audit Report

Abstract

Purpose: This study aimed to demonstrate the impact of the requirements of the International Auditing Standard No. (300): Planning the auditing of financial statements on the quality of the report performed by the external auditor. Design / Methodology / Approach: The descriptive statistical method was used, the data was collected through a questionnaire developed by the researcher, which targeted (113) individuals of the external auditors. The study included six axes, five of which were allocated to measure the impact of the requirements of the audit standard No. (300), while the sixth axis was devoted to measure the quality of the auditing report. Results: The study found that there is a statistically significant relation with the requirements of the International Auditing Standard No. (300): Planning the auditing of financial statements on the quality of the report of the external auditor, where the axis of planning activities had the most significant impact on the quality of the audit report, while the additional considerations were less impactful in the auditing process. Originality/ Value: According to the researcher knowledge, this study is considered as the first one which dealt with the variables of the study combined; this will provide a solid ground for researchers to motivate themselves to conduct further research and studies on these variables.