1/1: Introduction:

The recent years, beginning in 2001, witnessed many cases of collapse of many
major companies in various countries of the world and a loss of confidence in
financial reports. To the lack of continuity of companies, and among the most
famous of these cases is the bankruptcy and collapse of a number of giant
American companies such as the Enron Energy Company, the WorldCom
Communications Company, the Parma at Company in Europe and other
companies, and this was followed by the fall of the Arthur Anderson office, one of
the largest audit offices in the world, and the subsequent Global financial crisis
beginning in 2008. This has led to raising fears and doubts about the weak
independence of the auditor and the low quality of auditing, and thus low
confidence in the auditing profession as a whole. Their collusion with the
administration in exposing these deviations (Abdollahiebli, 2018; Abdelmoula &
Afess, 2019).

In an attempt to address the problems revealed by those collapses and the financial
crisis, enhance the efficiency and independence of auditors, improve audit quality,
restore confidence in the auditing profession, and achieve financial stability for
companies and financial markets, legislative bodies and professional organizations
in many countries of the world have taken some measures to find solutions to these
crises and reduce their occurrence.

The expanded audit report is one of the tools used to reduce these crises, as it
represents a tool through which the users of the financial statements judge the
extent of the fairness and honesty of the financial statements and the extent to
which they express the enterprise’s performance and its financial position, as there
were claims to improve the structure and content of the audit report. The audit is
the main point of contact between the company's auditor and its shareholders. In its

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old format, the report provided little information about the company that did not
help users make their decisions.

In June 2013, the International Standard on Auditing (ISA 700) report entitled
"Report of the Independent Auditor on the Financial Statements" was issued. The
main objective of this audit report is to improve the informational value of the
users of the financial statements by enhancing more transparency about the
financial statements and the performance of the establishments and achieving the
quality of the audit process.

The quality of the audit process is a major goal that all professional organizations
confirm to achieve. Investors, shareholders and stakeholders aspire to receive
information of value and high quality, through auditors performing audits at the
highest possible levels of quality, given that the external audit process represents a
performance of control over management behavior and a tool to protect the
interests of corporate shareholders and investors (Zeng et al, 2021).

Therefore, it is expected that the expanded audit report will improve the
informative value of the audit reports while improving the quality of the audit by
increasing the degree of accountability, as the expanded audit report increases the
effectiveness of the auditor in the areas that the management does not want the
auditor to focus on, especially High risk areas, which increases the degree of
accountability of the auditor and his commitment to transparency and
responsibility for providing accurate assessment of the validity and credibility of
the information contained in the financial statements (Kitiwong, &
Sarapaivanich,2020). Thus, the direct result of the expanded review report and the
high quality of the review is to provide investors with high-quality and transparent
information in a timely manner (Al-Hawary, 2020).

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In light of this, the researcher tries through the current study to shed light on what
the expanded audit report is and the effects of the expanded audit report on the
quality of the audit process and the extent of its reflection on the decisions of
investors in companies listed on the stock market in the Arab Republic of Egypt.

1/2: The study Problem:-

As a result of what happened in the world in terms of financial corruption and the
bankruptcy of many establishments, and this was due to the low quality of the
auditing process, we find that the professional reality has witnessed many cases of
litigation against some members of the auditing profession as a result of the low
quality of auditing and the low credibility of financial reports in general, and thus
low Confidence in the profession of auditing and corporate financial statements.

And since the informational content of the auditor's report has received a lot of
criticism, the International Federation of Accountants (IFAC) and the American
Institute of Certified Public Accountants (AICPA) have increased interest in the
importance of the audit report and the quality of the audit process, and they issued
many standards and amendments to the audit report with regard to the form and
content of the audit report, The most important of which was to provide a criterion
that includes the information that should be available in the expanded audit report,
and the most important of which was the disclosure of the main audit topics, with
the aim of increasing the quality of the audit process and raising the informational
value of the audit report.

As a result, many international and local professional organizations began striving

to put in place mechanisms through which the level of quality of the audit process
can be raised, which will reflect positively on increasing the credibility and
transparency of the financial information contained in the reports and financial

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statements, and the direct result of this is increased confidence in the audit process
and confidence In the financial statements and reports of companies, by providing
information of high value and quality to investors, enabling them to make the right
investment decisions based on honest, accurate, high-quality and transparent
information. Hence, the problem of the current study lies in finding out the
extent of the importance of the expanded audit report and the extent of its impact
on the quality of the audit process and how this is reflected in the investors’
decisions. The study problem can be formulated in the following main question:

"What is the impact of the expanded review report on the quality of the
review process and how is this reflected in the investors' decisions? "From this
main question, the following questions branch out:

1) What is the extended review report, what are its limitations and most important
contents?

2) Does the expanded audit report affect the quality of the audit process?

3) Does the expanded audit report influence investors' decisions?

4) Is there an impact of the quality of the review on the decisions of investors?

5) How does the relationship between the expanded review report and the quality
of the review process affect the efficiency of investment decisions in the stock
market in the Arab Republic of Egypt?

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1/4:-Objectives of the study: -
The main objective of the current research is to try to identify the extent of the
impact of the expanded review report on the quality of the review and the extent of
its reflection on the decisions of investors in the companies listed in the stock
market in the Arab Republic of Egypt. This main objective can be achieved by
achieving the following sub-objectives:

1) Testing the impact of the extended audit report on the quality of the audit
process.

2) Testing the extent to which the extended review report influences investors'
decisions.

3) Testing the impact of audit quality on investors' decisions.

4) identify the extent of the reflection of the relationship between the extensive
review report and the quality of the review process on the efficiency of investment
decisions in the stock market in the Arab Republic of Egypt.

1/5:- The importance of studying:-

The importance of the current research is evident through the following:

 First: - The scientific importance of the research:

The scientific importance of the research stems from the following points:

1) The scarcity of Arabic, especially Egyptian, studies that dealt with the
relationship between the expanded review report, the quality of the review, and
investment decision-making in the Egyptian environment, within the limits of what
the researcher saw.

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2) The study attempts to provide a new addition to the issue of the extent of the
impact of the expanded audit report on audit quality and its reflection on investors'
decisions, and to measure the impact of changes in the expanded audit report in
accordance with International Standard No. 700 on financial statements on audit
quality and its impact on investors' decisions.

3) The impact of the expanded audit report on the behavior of audit firms in terms
of providing high quality audit services.

 Second: - Practical importance:

The practical importance of the study stems from the following elements:

- There is interest at the international and local level in the extent of the impact of
the expanded review report on the quality of the review and its reflection on
investors' decisions and whether this leads to an increase in investment.

Enhancing the ability of investors to make rational investment decisions in sectors

with confidence.

- Assisting researchers in giving confidence to the expanded review report and

enhancing the quality of the review.

Enhancing the ability of audit offices to provide high-quality auditing and

developing and improving the auditing process leads to higher auditing quality and
increasing investor confidence to achieve profits.

Encouraging academics to use the research results to educate accounting students

(future accountants) about the importance of the expanded audit report and the
importance of audit quality, and encourage them not to get involved in the audit
report with errors and fraud, and to enhance adherence to professional rules and
transparency.

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- Providing recommendations for the purpose of assisting researchers and investors
in using accounting information and making rational decisions. This direction of
the Egyptian state to attract investment is beneficial to the auditing profession in
expanding the competition base and limiting the concentration of the auditing
profession in some offices.

1/6: - Study assignments:

The study is based on the following main hypothesis:
"There is a statistically significant effect of the relationship between the
expanded audit report and the quality of the audit process on investors'
decisions in the stock market in the Arab Republic of Egypt." From this
main hypothesis, the following sub-hypotheses branch out:

1) There is a statistically significant effect of the expanded review report on the

quality of the review in the stock market in the Arab Republic of Egypt.
2) There is a statistically significant effect of the expanded review report on
investors' decisions in the stock market in the Arab Republic of Egypt.
3) There is a statistically significant effect of the audit quality on investors'
decisions in the stock market in the Arab Republic of Egypt.
4) There is a common effect of each of the expanded review report and the quality
of the review on the decisions of investors in the stock market in the Arab Republic
of Egypt.
1/7: - Study methodology: -
In dealing with the research topic, the researcher will rely on the modern scientific
method, which consists of the following:
-The inductive approach: with the aim of studying and extrapolating some of
the previous studies that are included in accounting thought and related to the

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subject of the research, with the aim of benefiting from them in addressing the
research problem, where the researcher refers to Arab and foreign references
specialized in the subject of the research in order to determine the impact of the
expanded reference report on the quality of the research process. This was reflected
in the decisions of investors in the stock market, and the foundations and rules that
can be applied to increase confidence in the quality of the audit process and the
audit report to give confidence to investors.
- The deductive approach: It is based on deductive logical thinking to try to
link the theoretical study with the practical reality. The researcher will conduct a
field study by making survey lists to find out the opinions of a sample of the
parties involved in auditing services. Audit represented by members of audit
committees, users of financial reports and audit reports represented by investors in
brokerage firms and those interested in the stock market in the Arab Republic of
Egypt.

1/8: -The limits of the study: -

- Spatial limits: the current study is limited to the joint-stock companies listed in
the Arab Republic of Egypt.

- Time limits: The current study is limited to 2023.

- Objective limits: The study is limited to dealing with the impact of the
expanded review report on the quality of the review and its reflection on the
decisions of investors in joint-stock companies listed in the Arab Republic of
Egypt without other variables.

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 1/9: - Study plan: -
Based on the problem of the study, its methodology and hypotheses, and in order
to achieve its objectives, it will be divided into the following chapters and topics:

 The first chapter: the conceptual framework of the study.

- The first topic:- the conceptual framework of the expanded review report No.
700.
-The second topic:- the conceptual framework for the quality of the review
process.
 The second chapter: - the relationship between the extended review
report and the quality of the review and its reflection on investors'
decisions.

- The first topic: the conceptual framework of investment decisions and their
most important determinants.
- The second topic: the reflection of the relationship between the expanded
review report and the quality of the review on investors' decisions
 The third chapter: field study and hypothesis testing.
 Findings, recommendations and suggestions for future research.
 References and appendices

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