The Role of Audit Committees in the Reduction of Earnings Management Practices and their Impact on the Quality of the Published Financial Reports of Joint Stock Companies in Iraq ( A Practical Study on Some Insurance Companies Registered in Iraq Stock Exchange)
Abstract
This study aims at identifying the role of audit committees in the reduction of earnings management practices and their impact on the quality of the published financial reports of joint stock companies in Iraq. To achieve the objectives of the study,a questionnaire has been designed and distributed among internal auditors and accountants Who work in insurance companies. 110 copies of the questionnaire has been distributed, but the researcher has recovered only 100 of them, which represent 91% of the total number. The researcher used the (SPSS) program to analyze the results of the study. the study has reached a set of conclusions. The most important conclusions are: the preparation of reports that are concerned with the audit committees periodically attached with the accurate and honest periodic financial reports represent a support to the audit committees for the purpose of upgrading the quality of the financial reports and increasing the confidence of its users.The study recommends the periodical changing of the members of the auditing committees which will insure the independency and neutralization of those members in their decisions and reports as well. In addition, the annual reports should include a statement about the auditors' responsibilities and the number of their annual meetings as well as the evaluation of these committees.
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