A comparison of internal auditing practices in public and private sectors of Turkey and a research

This study aims inter-sectoral comparison of internal audit activities which increase in importance both in public and private sector. In this context, futures examined include recruitment of internal auditors, organizational position of the department, duties, powers and responsibilities, relationships with senior management, external auditors and reporting. For the public sector; Law No. 5018 and other legal acts prepared depending on this law and for the private sector The International Standards for the Professional Practice of Internal Auditing and CMBT?s (Capital Markets Board of Turkey), BRSA?s (Banking Regulation and Supervision Agency) related regulations give opportunity for a theoretical comparison. The basis of the research is the survey which was sent to Association of Public Internal Auditors members and private sector auditors who work for 500 largest industrial companies or the companies that are traded in XU100 in Istanbul Stock Exchange. Results suggest that there are the major differences in the organizational positions and in relations with senior management of internal auditors in two sectors, which public sector auditors are less satisfied.