The Department of Accounting Studies at the Post-graduate Institute for Accounting and Financial Studies at the University of Baghdad discussed the research titled(Re-evaluating oil and gas pipelines in accordance with international financial reporting standards and its impact on audit procedures-An Applied Research) for the student Ahmed Majed Khudhur to obtain chartered accountant certificate, which is the highest professional certificate in the field of specialization, and its holder enjoys all the rights and privileges of a doctorate degree.
The study aimed to identify revaluation in terms of the concept, objectives, and importance, and to explain the requirements for revaluation in accordance with international financial reporting standards through a statement of the international standards for revaluation, and to indicate the impact of revaluation on financial reports, and then to develop procedures for auditing the revaluation of oil and gas pipelines from While proposing procedures for auditing the re-evaluation in accordance with international auditing standards and for the purpose of achieving the research objectives, the research was applied to the Oil Pipeline Company (a public company) and based on the financial statements for the years 2019 and 2020
The study reached The increase in the value of the company’s assets in the year 2019 amounted to (23361559512) dinars over the book value recorded in the company’s records due to reliance on the depreciation rates stated in the unified accounting system.
