Abstract:

New Turkish Commercial Code requires stock corporations are subject to audit. Independent auditors will conduct the audit. Compliance and performance audits are both included in financial statements audit. In this context, balance sheet, income statement, cash flow statement and statement of changes in equity as a set of financial statements with footnotes are the financial instruments, which are subject to audit. Turkish auditing standards are the criteria for the audit progress. Public oversight board is the public authority for publication of standards and quality control of audit. The article studies the audit practice in Turkey

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