Nonlinear system uniformity of audit reports in the fair value statement

Abstract

The article examines the nonlinear system uniformity of audit reports in accounting at fair value. We will focus on the main issues of the audit, the methodology of which is stated, and on procedures related to the fair value of investment property, especially those related to the challenge of management estimates and the use of appraisal specialists. The uniqueness of the study is that the data consists of 235 separate audit reports of the real estate sector between 2021 and 2023 and covers 60% real estate companies in country. We found that the Big4 audit companies do not have uniformity in their audit reports. There is a statistically significant difference between the audit firms of the Big4 in the report on the problem of managerial assessment and the number of audit procedures. We also found that legal origin plays an important role when auditors report on key audit issues. The results of the study contribute to the current quality of reporting audit and literature