The purpose of this study is to investigate whether accountants with financial expertise can improve the quality of financial reporting. Given that the quality of financial reporting is affected by several factors, it is challenging to measure it accurately. Therefore, this study provides a comprehensive index of financial reporting quality to fully cover this category. The independent variable of the study examines the financial and accounting expertise of audit committee members, which is measured as a percentage of committee members with accounting and financial expertise. To achieve the research objective, financial information of 153 companies listed on the Tehran Stock Exchange from the beginning of 2014 to the end of 2019 was used, and the multivariate regression method and mixed data were used to test the hypotheses. The results show that the accounting and financial expertise of audit committee members has a positive and significant effect on the quality of financial reporting. These findings indicate that the presence of members with more financial and accounting expertise in the audit committee leads to an increase in the quality of financial information provided. However, the results also show that the accounting and financial expertise of audit committee members does not have a significant effect on actual earnings management. In other words, committee members with accounting and financial expertise do not play a role in reducing or increasing actual earnings management. In addition, the findings show that the accounting and financial expertise of audit committee members also does not have a significant effect on accrual earnings management, meaning that their expertise does not have an effect on reducing or increasing accrual earnings management.