الفهرس 
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Abstract
This study examines the effect of risk management assurance by the external auditors on investment efficiency. While prior literature has mainly examined the effect of assurance on voluntary nonfinancial disclosures on stakeholders’ decisions, there is a scarcity of studies that focused on the impact of risk management assurance on investment efficiency. The researcher conducted two types of studies, the first is an applied study which is interested in the relationship between the risk disclosure and investment efficiency using a sample of 376 observation from Egyptian firms listed on EGX100 between 2017 and 2022.. The second is a survey study interested in the relationship between the assurance on voluntary risk management disclosure and investment efficiency using 389 closed-ended questionnaires directed to the stakeholders of the Egyptian listed firms. The results of the applied study demonstrated a significant positive effect of risk disclosure on investment efficiency, where risk disclosure increases the overinvestment and decreases the underinvestment but leads in sum to more investment efficiency. In addition, the results of the survey study demonstrated a significant positive effect of assurance of risk management disclosures on investment efficiency where risk management assurance decreases both overinvestment and underinvestment.