The Impact of Adopting the Concept of Professional Specialization by Iraqi Audit Firms on Reducing Audit Costs: A Study of Auditors’ Opinions

Abstract

This research aims to determine whether auditor specialization in specific economic sectors contributes to reducing the time and effort required to complete audit tasks, thereby improving the overall cost of the process without compromising the quality of the results. The study adopted a descriptive-analytical approach, reviewing the relevant literature and collecting data from a sample of audit firms and offices. These data were statistically analyzed to measure the impact of audit firms' professional specialization on audit cost indicators. The results indicate that professional specialization provides accumulated experience and a deeper understanding of the entity's operating environment and its accounting and control systems. This, in turn, leads to the design of appropriate audit procedures and better control of the time required to complete tasks, ultimately resulting in reduced audit costs.