Independent auditing system in Turkey and international auditing standards

Fast-growing of the companies due to developing and changing economic conditions has increased along with the need for reliable and accurate information. Increased necessity for reliable and accurate information has caused in turn gaining importance of independent external audit. Independent external audit, which has become a huge need for businesses today have emerged at different times in all countries. Therefore, the development of the independent external audit practices vary between countries. Independent external audit, has emerged first in England. In Turkey, the independent external audit requirement has been raised with the supervision of banks in 1987. Independent external auditing system, which raises the most important events in 2001, the USA is one of the largest energy company Enron's bankruptcy is like. Enron wants to bankrupt the USA in many aspects of economic and legal fields have started to be interrogated. Within this context of improvements, one of the most significant and comprehensive regulationrelated to independent auditing was implemented with Sarbanes – Oxley Law that was passaged into law in The US in 2002. It is made parallel arrangements in the European Union in 2006. In our country on the way of European Union, the new Turkish Commercial Law of number of 6102 was adopted in 2011. New regulations in the accounting and particular to audit field has been made in the said law. On independent auditing " Public Oversight Accounting and Auditing Standards Authority " was created. In this thesis; the importance and necessity of the audit were explained. New Turkish Commercial Law the innovations brought to the audit and independent external audit systems in Turkey were examined. In addition, new regulations and evaluation of the positive and negative aspects of the changes made contributions to the Institute of Public Oversight and audit have been addressed. Keywords: Independent Audit, Turkish Commercial Law, Public Oversight Accounting and Auditing Standards Authority, Independent Audit Standards.