THE EXTENT TO WHICH AUDITORS CAN AUDIT INTANGIBLE ASSETS IN ACCORDANCE WITH THE OBJECTIVES OF THE ECONOMIC UNITS (A PROPOSED MODEL FOR THE ADOPTION OF THE INTERNATIONAL STANDARD OF AUDITING 300 PLANNING AND 500 EVIDENCE IN THE IRAQI ENVIRONMENT)

Abstract

Accounting and control of intangible assets is one of the most difficult and difficult areas in terms of measurement, proof and scrutiny. This difficulty is due to the aspects associated with identifying these assets, the uncertainty of reliably measuring their value and estimating their expected lives, the evidence of lack of physical presence and high degree of uncertainty with respect to The future economic benefits make it more difficult to identify, measure, verify and control this type of asset. The adoption of economic units on intangible assets has increased recently, especially after the entry of the third millennium, the emergence of globalization and the opening up of the economies of countries to each other as many economic units have become integrated into larger economic units to cope with increasing global competition. These units need many assets. In particular intangible assets such as intellectual property, software, patents, etc., which increased the importance of these assets and the need for accounting and control because of the problems generated by these developments. The problem of research is the difficulty of measuring and proving intangible assets and the difficulty of auditing them, especially in the Iraqi environment, by the failure to adopt a local standard or program that complies with the international auditing standard 500 evidence that provides a systematic mechanism for auditors to audit intangible assets according to the objectives of economic unity. The research hypothesizes that the research is based on the assumption that intangible or non-existent assets are difficult to measure and prove in records, but can be simplified by linking them to the objective of the economic unit. They can be applied in the Iraqi environment if you comply with ISA 300 Planning and 500 proof of evidence as the basis for the adoption of an Iraqi local audit standard for the audit of intangible assets. The research reached the most important conclusion that intangible assets are assets that do not have a material physical presence obtained by the economic unit due to contractual or legal rights. Get through which future economic benefits desirable to use a separate measure of intangible assets and the most important recommendation of the auditor must update the overall audit strategy and audit plan and adjusted so the nature, timing and scope of the audit procedures and additional planned.