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The major aim of this research is to study the viewpoints of the meanagers of the companies accepted at Tehran Stock Exchange on the effectiveness of certified auditing of financial statements. The managers of these companies are of the opinion that independent auditing will be effective in the detection and reduction of illicit acts and offences as well as the exercise of precise appraisal of bases used in accounting estimates. But such auditing will not serve for the purpose of improving internal control system, reducing the likelihood of errors omission, fraud as well as introducing a basis to gauge the concept of operation continuity in an economic concern.