The objective of this research is to study and analyze the impact of the existence of "Key Audit Matters" paragraph related to the valuation of investments using fair value in the audit report on the investor's reliance on audit report, investment decision and confidence in this decision. The researcher relied on a sample of 95 financial analysts, investment managers and investment analysts (in a position to take investment decisions) in different sectors in Egypt. The researcher designed a 2X2 between subjects experiment to investigate the impact of the disclosure of the "Key Audit Matters" paragraph in the audit report on the investors' reliance on audit report, investment decision and confidence in this decision and whether these impacts will differ with the different experience levels of investors. The researcher relied on nonparametric tests to test the research hypotheses and found no significant impact of the "Key Audit Matters" paragraph on the investor's reliance on audit report, however unexpectedly, the investor's investment and confidence in investment decision have decreased significantly in the case of the existence of "Key Audit Mattesr" paragraph in comparison with its nonexistence in the audit report. The statistical results didn't change after the inclusion of investor's experience as a moderating variable. ‫د‬ ‫بدوي‬ ‫السالم‬ ‫عبد‬ ‫هللا‬ ‫/هبة‬ ‫ات....‬ ‫األستثمار‬ ‫تقييم‬ ‫بشأن‬ ‫األساسية‬ ‫اجعة‬ ‫المر‬ ‫أمور‬ ‫لفقرة‬ ‫المعلوماتي‬ ‫المحتوى‬ ‫أثر‬ 191 Accordingly, the researcher recommends the application of the new international auditing standard ISA 701 in Egypt in order to increase disclosure and transparency levels and reduce information, expectation and communication gaps, also, the researcher recommends conducting training sessions for investors and auditors in Egypt to make them aware of the modifications in the audit report and the new international auditing standard.

The objective of this research is to study, investigate and compare the value relevance of accounting information; accounting earnings, book value of equity and operating cash flows, between the Egyptian and Saudi listed companies.The author hypothesized that there are significant differences between the value relevance of accounting information between the listed companies of both countries. The author developed three regression models to test the research hypotheses and collected 426 observations (firm-year) from the Egyptian stock market and 301 observations (firm-year) from the Saudi stock market for the period 2015-2017.Statistical results showed that accounting information are value relevant to investors, in general, in both countries. However, there are significant differences between the value relevance of accounting information in Egypt and Saudi Arabia. Accounting information in Saudi Arabia is of higher value relevance than that in Egypt. Investors in Egypt pay higher attention to book value of equity when they value firms, and on the other side, investors in Saudi Arabia rely on accounting earnings in the first place for firm valuation purposes.This research is one of the few studies that compare value relevance of accounting information between two developing countries. The results of this research are important to regulators and standard setters, who set standards in order to provide investors with the information they demand and increase the transparency and disclosure levels, and to managers, who should know the information that investors require to evaluate their firms.

No abstract

The purpose of this study is to examine the association between audit committee (AC hereafter) effectiveness, measured by its characteristics; AC size, AC independence and AC meetings and corporate sustainable growth rate (SGR hereafter) in the Egyptian setting. It also explores how results differ between service and non-service firms and whether the main results persist when only profitable firms are being examined. To obtain relevant information about AC characteristics and SGR, the study relied on the board of directors' and annual reports of non-financial firms listed on the Egyptian Stock Exchange (EGX) during the period spanning from 2015 to 2019. Multiple regression models were developed to test the research hypotheses and conduct sensitivity and additional analyses. After controlling for audit quality, ownership concentration, firm size, firm age and firm risk, regression results didn't Show significant positive association between AC size and SGR. However, AC independence and AC meetings are positively and significantly associated with SGR. Ownership concentration is positively and significantly associated with SGR, while audit quality is negatively