The research aims to show the extent of the impact of managing real profits on the company's value in the Iraqi environment for the period from (2011-2018). On a sample of (12) Iraqi industrial companies. The real profit management was measured by the (Roy Chowdhury, 2006) model, while the company's value was measured by the Tobin's Q formula. Where investors build their investment decisions based on the net profit, and from this standpoint, company managers resort to manipulating profits in order to mislead investors and then influence their investment decisions. The study reached a set of conclusions, the most important of which is the existence of a positive and significant effect of managing real profits on the company's value. As for the recommendations, the most important of them are that company managers, before they get involved in managing for profits, should think about its results, especially the real ones. Although it has a positive impact on the value of the company in the short term. However, it has a very negative impact on the value of the company in the future. Thus, corporate directors and external auditors were exposed to the judiciary and the matter.

The research aims to demonstrate the impact of the high quality of external audit on the management of real profits in the Iraqi environment. For the period from (2011-2018). On a sample of (12) Iraqi industrial companies. The quality of the external audit was measured by the rotation of the external auditor. While the management of real profits was measured through the (Roychowdhury, 2006) model. Where the high quality of external audit is an important element to reduce the management of real profits, and this is what prompted international organizations for the audit profession to pay attention to the quality of external audit and how to achieve it by setting international auditing standards that aim to achieve an audit process. High quality. The study reached a set of conclusions, the most important of which is the existence of a negative and significant effect of the quality of external audit in managing real profits. As for the most important recommendations, company managers should stay away from profit management activities. Especially real. Although it has a positive effect on the value of the company in the short run. However, it has a very negative impact on the company's future value. Thus, company directors and auditors were exposed to the judiciary and the issue.