The paper aims to examine the influence of voluntary disclosure on the quality of financial reporting among firms listed on the Iraq Stock Exchange by examining financial reports from 2014 to 2023. The study sample comprises 56 businesses registered on the Iraq Stock Exchange, accounting for 80% of the research population of 70 enterprises. The results show that voluntary disclosure positively affects the quality of financial reporting by mitigating information asymmetry. Companies that engage in voluntary reporting can enhance their financial transparency and attract investor interest. The results also indicate that the presence of information asymmetry negatively affects the quality of financial reporting, indicating that when there is a large information gap between investors and management, the quality of accounting information generally declines. This study contributes to capital market literature by investigating the relationship between voluntary accounting disclosure and financial reporting quality. There is no existing evidence on using management plans for future performance as a tool for voluntary disclosure in a non-regulatory environment. Currently, there are very few cases of mandatory management earnings forecasts. The current study examines whether voluntary disclosure using management earnings forecasts changes the behavior of investors in the stock market toward the company’s financial reports.