THE EFFECT OF APPLYING (ISQC 1) IN ENHANCING QUALITY AND REDUCING INFORMATION ASYMMETRY / A COMPARATIVE STUDY BETWEEN IRAQI FIRMS AND AUDIT OFFICES

Abstract

The research aims to present the procedures for auditing firms to enhance the quality of auditing, as well as to review the work of Iraqi auditing firms and offices in order to develop proposals to improve auditing performance and quality. Auditors have to ensure, to a reasonable degree, that their services provided comply with the standards of the profession, in order to reduce information asymmetry in financial reports. The research reached results, the most important of which are the adoption of (ISQC 1) improves the quality of audit services and thus improves profitability. There is a discrepancy and partial application of the standard (ISQC1).