{"id":1896,"date":"2023-10-19T11:52:17","date_gmt":"2023-10-19T08:52:17","guid":{"rendered":"https:\/\/en.pgiafs.uobaghdad.edu.iq\/?p=1896"},"modified":"2023-11-14T11:51:08","modified_gmt":"2023-11-14T08:51:08","slug":"the-post-graduate-institute-for-accounting-and-financial-studies-discusses-adoption-of-ifrs16-lease-contracts-and-its-impact-on-audit-procedures","status":"publish","type":"post","link":"https:\/\/en.pgiafs.uobaghdad.edu.iq\/?p=1896","title":{"rendered":"The Post-graduate Institute for Accounting and Financial Studies discusses Adoption of IFRS16 Lease Contracts and Its Impact on Audit Procedures"},"content":{"rendered":"

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Institute media<\/strong><\/span><\/h4>\n

The Department of Accounting Studies at the Post-graduate Institute for Accounting and Financial Studies at the University of Baghdad discussed the research titled(Adoption of IFRS16 Lease Contracts and Its Impact on Audit Procedures (An Applied Study in an Insurance Company)) for the student Junaid Ahmed Khalil\u00a0 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.<\/strong><\/span><\/h4>\n

The study aimed to demonstrate the impact of adopting the financial reporting standard (IFRS16) for lease contracts in insurance companies on auditing procedures by presenting and analyzing the reality of accounting and auditing in insurance companies, identifying related problems and obstacles, and creating the necessary requirements for adopting the standard (IFRS16).<\/strong><\/span><\/h4>\n

The study concluded that adopting the standard contributed to improving financial ratios and indicators, which proves that the standard has a positive impact on the financial performance of the economic units that apply it, and that establishing audit procedures for lease contracts prepared in accordance with the standard by the auditor helps reduce the risk of risks included in the process of auditing contracts, such as compliance. At the interest rate on borrowing, calculating the correct amortization rates, and distinguishing between financing and operating leases.<\/strong><\/span><\/h4>\n

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