After Sarbanes & Oxley act amendments in Turkey

The fact that the accounting scandals experienced in the markets significantly affect a very large part of the markets necessitates the legal regulations that are essentially a roadmap for companies and that contain legal sanctions to prevent these scandals and to build an atmosphere of trust in the markets. The purpose of this study are set forth in the regulations made after Turkey & OXLEY Sarbanes law. The Oxley Act was enacted in the United States in 2002 and similar legal studies have been carried out by many countries around the world. All These developments have enabled businesses to recall the internal audit function within the organization and initiate the necessary transformations to comply with the law. One of the key representatives of change towards the internal audit profession has been the International Institute of Internal Auditors. Since its establishment, the Institute has published standards and ethical principles for the execution of the profession, although it is not binding, has ensured the spread of these standards and principles globally. In Turkey, the new Turkish Commercial Code has also been an important influence on the internal audit field, as in many areas. After the law, the powers and responsibilities of internal audit units within institutions were in creased.