esmail shoja - Ph.D. Student in Accounting, Firoozkooh Branch, Islamic Azad University, Firoozkooh, Iran
Seyed Yousef Ahadi Serkani - Associate Professor, Department of Accounting, Firoozkooh Branch, Islamic Azad University, Firoozkooh, Iran.
Seyedeh Atefeh Hoseini - Assistant Professor of Accounting, Firoozkooh Branch, Islamic Azad University, Firoozkooh, Iran

The paper aims to study the sentiments of professional and non-professional investors on Critical Audit Matters (CAM) according to International Auditing Standard No ۷۰۱. The paper, however, is survey-based, and a questionnaire was used to collect data. The statistical sample includes ۱۰۰ investors, ۵۰ professional investors, and ۵۰ non-professional investors who have been purposefully selected and available (professional investors include managers of investment firms and non-professional ones consist of undergraduate and graduate students majoring in management and accounting, who do not have a professional background and whose investment activities are not considered part of their professional activities). Findings show modifies in the level of disclosure reported by the auditor on the quality of reporting, the level of credibility of the firm's management, and the amount of investment, and modification in the level of credibility of the firm's management on the level of auditors' confidence, quality of reporting and the amount of investment. Furthermore, there is no difference between the modification in the level of disclosure reported by the auditor and the credibility of the firm's management on the auditor's independence and the risk of material misstatement not reported by the auditor. From the point of view of professional investors, in other words, events with the highest risk of material misstatement of the auditor's report, the auditor's assessment of major events and transactions, and matters that are relevant to the auditor's professional judgment in the financial statements would further affect their decision to invest. However, this is not the case for

Professional and Non-Professional Investors, Auditor Report, International Standard No. ۷۰۱, Critical Matters, Public Company Accounting Oversight Board