Evaluating the impact of ISA 700 requirements in maximizing the audit report’s value and minimizing the standard’s gap

Abstract

the objective of the research and the main aim of this study is to determine and evaluate the requirements' impact of the international auditing standard 700 in maximizing the audit report's value and in reducing the related standards gap , the methodology of the study used by the researcher in order to achieve the objective of the study is an experimental study to test the study's hypotheses, the researcher selected a sample of (63) specialists from different categories to explore their opinion about the researcher's subject including: external auditors, financial analysts and academics, and the findings of the research indicated that there are shortcomings and problems associated with the standard audit report, so the new audit report becomes imperative, in order to maximize the value of it for intended users and also applying or adopting the new form of audit report in Egypt will help in minimizing the standards gap in Egypt

Keywords

• standard audit report
• isa 700 (revised)
• audit report value
• standards gap in egypt