operations and accounting adjustments (operating accruals). Since cash flows from operations predict future profitability better than accruals, the inability to distinguish between these two components makes investors optimistic about companies with high accruals. Be pessimistic towards companies with low accruals. Therefore, inexperienced and uninformed investors affect the prices and cause the prices to change; therefore, it is expected that the prices for companies with high accruals will increase irrationally and for companies with low accruals will decrease. As a result, companies with high accruals should have low future abnormal returns and companies with low accruals should have high future abnormal returns. Therefore, the purpose of this research is to investigate the effect of the financial crisis on the anomaly of accruals by considering the role of investment levels. In order to achieve the goal of the research, two hypotheses have been formulated. In order to test these hypotheses, a sample of 105 companies admitted to the Tehran Stock Exchange was selected between 2015 and 2021 using the systematic elimination method. To test the research hypotheses, multivariate regression models have been used using the pooled data method. The results of this research show that the financial crisis has a negative effect on the anomaly of accruals. Also, the results showed that the investment levels strengthen the impact of the financial crisis on the accruals anomaly.