Comparison of accounting systems of Türkiye, the Kingdom of Saudi Arabia and the United Arab Emirates

In the globalizing world, the convergence between countries, common stances and ideas have affected politics, technical and social sciences, and thus accounting science has gained an international identity by crossing borders in every country. For this reason, it has become obligatory for the accounting system to comply with international standards. While making economic decisions, internationally active businesses face difficulties when analyzing financial statements prepared according to accounting systems that differ worldwide. Because it is important for information produced by the accounting information system to be valid in the decision-making processes of all corporate stakeholders especially international investors. In other case, if the information is valid only at the national level, the trading volume at both national and international level will not reach the desired levels. Businesses operating in the international arena are interested in the accounting system applied in the countries in which they operate. Because the accounting system consisting of the accounting methods used and the laws regulating accounting directly affects these businesses. The purpose of this study is to analyze the historical development of the accounting systems of Turkey, Saudi Arabia and United Arab Emirates, their legal framework, current regulations, tax practices, accounting profession and the level of implementation of international accounting and auditing standards in these three countries. In addition, this study also includes information about the similarities and differences between the accounting systems applied in Turkey, Saudi Arabia and United Arab Emirates. In short, this study aims to help remove the language barrier that companies operating in these three countries will face in the exchange of financial information.