The accounting scandals taking place in Turkey and in the World, the regulations made, the investigation of the companies banks engaged in irregularity

The scandals of Enron (2001) and Worldcom (2002), two of the most important companies in the world and traded in the US stock market, have resulted in the loss of confidence in financial reports, company management, independent auditors and capital markets. These developments affected the American economy, as well as many developing economies. The Sarbanes Oxley (SOX) Act, which was enacted in 2002 mostly against the Enron scandal, was intended to affect most publicly traded companies in the US, to support corporate governance, to change the order of independent external auditing and to revise controls on companies' financial reporting. The aim of this thesis is to put forth cheating and irregularities occurring in Turkey and in the world and to specify fraud auditing techniques and regulations and the measures taken against them. In the last part of the thesis, sinking firms and banks in Turkey are investigated. In the first chapter, the importance of the accounting and auditing profession is explained by giving brief information about them. TMS/TFRS and BOB FRS were compared. In the second chapter, important scandals (Enron, Worldcom, Parmalat, Ahold, Kanebo, Tyco etc.) that happened in the world are discussed. According to the Independent Audit Regulation, Administrative Sanctions to be made by the Board are examined. In the third chapter, fraud auditing techniques are specified in Turkey and the European Union Countries, England and France; the US and EU regulations regarding fraud auditing are discussed. In the fourth section, bankrupt companies and sinking banks are examined.