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The Department of Accounting Studies at the Post-graduate Institute for Accounting and Financial Studies at the University of Baghdad discussed the research titled( Auditing the measurement and accounting disclosure of state-owned property sale and lease contracts in accordance with international auditing standards and its impact on the financial statements-Applied Research) for the student 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 present the theoretical framework for accounting measurement and disclosure, highlighting the concept of sales and lease contracts, and defining municipal institutions and the laws, regulations, and instructions governing them. It also reviewed international auditing standards related to auditing sales and lease contracts. It also developed and implemented a proposed program for auditing sales and lease contracts for municipal properties based on international auditing standards and applicable laws, regulations, and instructions. It also proposed a number of measures to develop a unified accounting system for municipalities in accordance with international laws and standards, and their impact on the validity and fairness of financial statements.
The study concluded that there are no integrated and unified procedures for auditing accounting measurement and disclosure for sales and lease contracts and verifying their validity. It also concluded that the evaluation of the internal control system is weak, leading to the inability of the external auditor to evaluate this system, its efficiency, and effectiveness. Consequently, the auditor is unable to determine the degree of reliability, thus affecting the scope and extent of the tests they will conduct.
