Many efforts were also done by the Lebanese Government to apply the …show more content…
First, new foreign investments were announced in Lebanon, the companies involved are mandatorily required by the parent company to be audited, especially when owned by European countries. Second, investors and creditors became more interested in the credibility of the financial statements, thus requesting audited information before taking their decision. Third, several companies voluntarily choose to be audited, whether to improve the accounting quality or to benefit from the positive perception of the market for audited financial statements. These reasons are explained in details in the next