An Evaluation of the Role of Supreme Audit Institutions in Reduce of Audit Failure to Promote Economic Development: The Case of the Federal Board of Supreme Audit of Iraq

Abstract

There is increased public outcry in Iraq on the government’s wastage of public spending, corruption, high recurrent expenditures and ineffective budget performance by different government entities. This led to increase in pressure on the Supreme Audit Institutions (SAIs) to reduce of audit failure in order promote economic development. this study aimed to examine the role of supreme audit institutions in reduce of audit failure and examine the Impact of Reduce Audit Failures on promote economic development, the target population in the present study is linked to auditors from the Federal Board of Supreme Audit of Iraq. The total number of Auditors 1734 Auditor. The sample size (n) is 317. The Partial Least Squares Structural Equation Modeling (PLS-SEM) was used to test the research model, with Smart PLS 3 specifically employed to test the research hypotheses. The findings of the study showed that the SAIs efforts to lessen corruption are its major contribution in preventing corruption, reduce of audit failure and in supporting accountability and transparency with the main aim of supporting a robust financial-management system and promote economic development. Therefore, it is crucial that SAIs become the linchpin of the integrity of the country as they are responsible for auditing government income and expenditure, the watchdog over financial integrity and the credibility of information provided