The Reality Of Practicing Corporate Governance & Its Reflections On the Quality Of Disclosure & Transparency From the View Point Of Auditors & Users Of Financial Statements "A Field Study On the Saudi Business Environment"

Abstract

The present study aims to identify the reality of practicing corporate governance in Saudi business environment through measuring the level of commitment and seriousness of adopting rules & regulations of corporate governance from the view point of auditors. Moreover, the study aimed to identify auditors and users of financial statements attitudes in regards to quality level of transparency and disclosure in the published financial statements. In order to achieve the above objectives, the researcher adopted the descriptive analytical approach. The study included two samples: First sample was consisted of 96 auditors, which represent around 47.5% of the original society while the second sample was consisted of 139 users of financial statements. The Study concluded the following main findings: There was a commitment and seriousness of adopting rules & regulations of corporate governance in Saudi business environment. Also, the study concluded that there were differences between auditors and users of financial statements attitudes in regards to the quality level of disclosure and transparency of the published financial statements as these differences were for the favor of auditors.