The Impact of IFRS on Audit Quality in Romania

Andreea Mocanu (), Maria Grosu () and Ioan-Bogdan Robu ()
Additional contact information
Andreea Mocanu: “Alexandru Ioan Cuza” University of Iasi, Doctoral School of Economics and Business Administration, Romania
Maria Grosu: “Alexandru Ioan Cuza” University of Iasi, Faculty of Economics and Business Administration, Romania
Ioan-Bogdan Robu: “Alexandru Ioan Cuza” University of Iasi, Faculty of Economics and Business Administration, Romania

Ovidius University Annals, Economic Sciences Series, 2023, vol. XXIII, issue 2, 767-774

Abstract: Given the current economic uncertainties in the capital market, there is a heightened need for quality audit engagements to maintain the credibility of financial statements and the trust of users. In these circumstances, it is important to use the best practices in order to carry out quality audit engagements, in accordance with professional standards. Aligned with the global push for accounting harmonization through IFRS adoption, our study evaluates how implementing IFRS impacts financial audit quality, focusing on auditor opinions and key audit matters. The research was carried out on a sample of companies listed on the Bucharest Stock Exchange, both in the main and AeRO segments, whose annual reports were studied for the period 2016-2022. Preliminary results reveal that the application of IFRS has a significant influence on the quality of financial audit in Romania in terms of audit opinion and key audit matters.

Keywords: audit quality; IFRS; harmonization; audit engagement (search for similar items in EconPapers)
JEL-codes: M42 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://stec.univ-ovidius.ro/html/anale/ENG/wp-content/uploads/2024/02/22-2.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xxiii:y:2023:i:2:p:767-774

Access Statistics for this article

Ovidius University Annals, Economic Sciences Series is currently edited by Spatariu Cerasela

More articles in Ovidius University Annals, Economic Sciences Series from Ovidius University of Constantza, Faculty of Economic Sciences Contact information at EDIRC.
Bibliographic data for series maintained by Gheorghiu Gabriela ().