Author(s): Aslı TÃREL, Ahmet TÃREL
Key audit matters have been added to the audit reports in 2007 as a new section in order to provide more transparency regarding the audit conducted and to increase the level of communication of the auditor reports with information users. Key audit matters are among the issues that are reported to those responsible for senior management, which are of the utmost importance according to the professional judgment of the auditor. In this study, the independent audit reports of the companies whose shares are traded on Borsa Istanbul for the years 2017 and 2018 and the key audit matters in these reports have been examined in order to reveal the problems experienced during the preparation of the financial statements and independent audit process. According to the results, financial instruments, revenue recognition, property plant and equipment, inventories and impairment of assets are among the most important areas in the independent audit process. Furthermore, it has been found that there is no significant difference between the big four audit firms and other audit firms in terms of the number of key audit matters included in the independent audit reports.
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