The Effect of Activating Corporate Governance Accounting Mechanisms in Estimating and Reducing Audit risks – Applied Study in the Federal Financial Supervision Bureau of the Republic of Iraq and the Audit Offices of the Iraqi Society of Certified Public Accountants

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The research aims to show the impact of employing the accounting mechanisms of corporate governance in estimating and reducing audit risks. The research dealt in its conceptual aspect, with the concept and importance of corporate governance, the principles and rules on which it is based, and an explanation of its accounting mechanisms that have been identified as the audit committee mechanism, the internal audit mechanism, and the external audit mechanism. The audit risk was also addressed in terms of its concept and its relationship to relative importance and its impact on the credibility of audit results, its basic components (inherent risks, control risks, and detection risks) and the process of estimating them. On the practical side, a questionnaire was designed and distributed to 232 auditors from the Federal Financial Supervision Bureau of the Republic of Iraq and members of the Iraqi Association of Certified Public Accountants, and data was collected about the relationship between the accounting mechanisms of corporate governance and the estimation and reduction of audit risks and it was found that there is a clear correlation and impact between them. The research recommended the adoption of accounting mechanisms for corporate governance with its three dimensions for its clear role in estimating and reducing audit risks.

DOI : https://www.iasj.net/iasj/article/280605