| Abstract [eng] |
In the contemporary financial and economic environment, auditing plays a crucial role in ensuring the reliability, transparency, and accuracy of companies' financial data. One of the most important procedures within the audit process is the determination and disclosure of materiality. Materiality defines the threshold above which inaccuracies or errors in financial information may influence the decisions made by users of that information. For this reason, the disclosure of audit materiality remains a relevant issue today. This raises the central question of how materiality disclosure affects the investment decisions made by investors. The object of this study is the impact of disclosing audit materiality in the audit report on investors' decision-making. The aim of the study is to examine and evaluate how the disclosure of audit materiality in audit reports influences the decision-making of non-professional investors. To achieve this aim, several objectives were set: to substantiate the importance of the concept of audit materiality in the context of investment, to develop a conceptual model and explain the relationship between audit materiality disclosure and the needs of non-professional investors, to design the methodology for an experimental research framework and formulate research hypotheses, and to conduct an empirical study aimed at understanding how non-professional investors react to the (non)disclosure of materiality when making important decisions. The results of the study indicate that the disclosure of audit materiality has a limited impact on the decision-making of non-professional investors. Statistical analysis revealed that materiality disclosure in the auditor's report had a statistically significant effect only on improving the perceived informativeness of the audit report. This suggests that the information provided helps investors better understand audit processes and the financial information being analysed. Chi-square tests showed that materiality disclosure did not have a statistically significant effect on investors' confidence in financial information, changes in their willingness to invest, or their risk assessment. However, certain tendencies emerged, such as higher perceived risk and a lower willingness to invest, although these did not reach statistical significance. Therefore, it is recommended that future researchers conduct a similar study with a larger sample (not limited to KTU students as non-professional investors), include professional investors, and use financial data from more stable companies. The results of the study are relevant from both theoretical and practical perspectives. They may be useful for auditors, investors, and other users of financial information who seek greater clarity, transparency, and more effective decision-making. The disclosure of materiality has the potential to enhance investor confidence and improve the quality of decisions made. However, the extent of this benefit depends on the users' ability to properly evaluate and interpret the information provided. |
