Abstract :

AbstractThis study aims to identify the influence of efficiency of the elements of internal control system which are represented by control reports, control environment, risk assessment, information and communications, monitoring and control, and the relationship between internal and external audit on the quality of financial reports in their dimensions (relevance, faithful representation, additional disclosures) in Jordanian companies listed in Amman Stock Exchange in various sectors.To achieve the objectives, descriptive and explanatory methodology was implemented in this study. 223 valid questionnaires were obtained for analysis, after distribution to financial managers and internal audit managers, in addition to external auditors of those companies.The results shows that monitoring reports, information and communications, and the relationship between internal and external audit affected the quality of financial reports in terms of (Relevance and Faithful Representation) in companies listed in Amman Stock Exchange.Based on the results, the study recommends taking corrective actions to address weakness points in various sectors regarding the elements efficiency of internal control system. Moreover, the study recommends working to adopt and activate the technical and technological work effectively, and to ensure the provision of modern devices and advanced software, and the development of the information network.