The dynamics of audit market under the adoption of International Financial Reporting Standards

The scope of accounting figures as part of the entire social mechanism also includes some unannounced ambushes alongside the distinct approach of conceptual frameworks. Although there is a solid foundation of rules and principles, the practical controversy over the rule of law, the features of the financial market, the characteristics of the accounting regulation process and the ability to adapt the environment seem to be endless. A credibility benchmark is made by the auditor's opinion that increases the reliability of financial statements, thus providing investors with assurance about the entity's independence. The main purpose of the research is to present the actual circumstances regarding international financial reporting rules and their direct influence on financial audit. The in-depth knowledge of these elements makes it possible to highlight all the existing achievements, thus marking new directions for improving the bond between the two congruent themes.