Development of the audit and the effect of audit over the current assets under new improvements and a implementation

All these info have been kept up to date in this study that deals with the audit problems Turkey is having. The need of accurate and reliable information that appear with the wealth and the complexity of the numbers of the transactions that are formed with the operating activities has made the independent audit really necessary. The accounting scandals and irregularities recently going on has shaken the confidence towards the business management and independent audit firms. One of the main reasons for this situation that makes it unfavorableness with regards to the management and operational parties is that there is not an active independent audit process. In this process starting with the Sarbanes-Oxley Law, numerous national and international arrangements about audit have been made and the importance of an active independent audit has been emphasized. As a result of the regulations that were made, the responsibilities of the business executives and independent auditors have increased. A new era at the auditing has started with the accounting and auditing standards authority with the proforma of the Turkish Commercial Code and with the Constitution of the Accounting and Auditing Standards. KEY WORDS: Independent Audit, Independent Auditor, Independent Audit Scandal, 6102 Turkish Commercial Law, Public Oversight Board