The role of IFRS in improving the quality of Financial Auditing
DOI:
https://doi.org/10.61347/psa.v4i1.155Keywords:
Commercial sector, financial audit, IFRS, internal control, qualityAbstract
The quality of financial auditing is recognized as a key factor in ensuring the reasonableness and reliability of business information, particularly in environments where limitations are identified in control systems and in the application of current regulations. In this vein, the objective of this study is to establish the relationship between the adoption of International Financial Reporting Standards and the quality of financial auditing in commercial companies in the province of Chimborazo, considering its influence on the procedures and methods applied by auditors. A mixed-methods approach was applied, with a non-experimental design and a correlational scope, using surveys and interviews with a probability sample of 52 companies; statistical analysis was performed using Chi-square tests and Spearman’s correlation. The results allowed for the identification of associations between the adoption of IFRS and audit quality, highlighting associations such as the application of IFRS and key components of the audit process, including internal control (rho = 0.713; p < 0.001), audit planning (rho = 0.605; p < 0.001) and the execution of procedures (rho = 0.395; p = 0.004), and also revealed a statistical dependence among the analyzed variables (X² = 23.06; p = 0.027). Based on these results, it can be concluded that the adoption of IFRS contributes to the improvement of financial audit processes, techniques, and outcomes, provided that internal controls are strengthened and the professional competencies of the responsible staff are enhanced.
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