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The Readability of Standardised Reports by the International Federation of Accountants

Journal of Commerce and Accounting Research

Volume 2 Issue 1

Published: 2013
Author(s) Name: Mondher Fakhfakh | Author(s) Affiliation: Associate Professor, Department of Accounting, University of Sfax, Sfax 3018, Tunisia.
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The International Federation of Accountants has revised several standards that standardize audit reports. The objective of these revised standards is to improve financial reporting. So the purpose of this paper is to examine the readability of reports which have been standardised by three International Standards on Auditing (ISA 700, ISA 705 and ISA 706). The Measurement of the understandability of reports is achieved in terms of the linguistic characteristics of standardised reports wording. The results show that the standardised audit reports are not fully readable. These reports do not fulfill their informative function for all users of financial statements. Our investigation discusses the information value of reports published by ISA and the implications for the Stakeholders.

Keywords: IFAC, ISA, Audit Reports, Readability, Determinants of Understandability

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