Factors affecting the quality of financial statement audits of enterprises listed on vietnamese stock exchanges

Abstract

Financial statements are essential to make decisions of investors, managers and other interested parties. Therefore, the audit quality is crucial for assuring the precision, credibility and transparency of financial information. However, in recent years, the quality of financial statement audits in Vietnam is still limited, affecting the prestige and trust of stakeholders. This paper focuses on identifying and analyzing the main factors influencing the quality of financial statement audits of companies listed on Vietnamese Stock Exchanges. Factors considered include: "Legal environment"; "Characteristics of audit clients"; "Qualifications of auditors''; "Auditors' awareness of compliance with professional ethical standards"; "Quality control system of auditing firms" and "Size of auditing firms". After collecting 231 valid study samples, the authors conducted a scale reliability analysis using Cronbach Alpha's coefficient, exploratory factor analysis and regression analysis using SPSS software with a sample size of 231. The findings of the study indicate that all 6 factors above are statistically significant, positively correlated with the audit quality of financial statements of enterprises listed on Vietnamese Stock Exchanges. From there, research and propose solutions aimed at enhancing the quality of financial statement audits in Ho Chi Minh City, contributing to increasing the confidence of stakeholders in financial information. The results of the study will be of great significance to auditing firms, audited enterprises, state management agencies and other stakeholders, with an aim to enhance the quality of financial statement audits and advance the transparency and reliability of financial information in Vietnam