Independent audit in joint stock companies and especially responsibility of independent audit institutions

Nowadays, the companies are growing and globalizing day by day. To illustrate, this with an example,at the present time companies which are established in the USA ,can work in Turkey and they can establish permanent companies. Also ,investors can also invest in these companies. Due to this growth and globalization, the need for audit increase. The existence of international companies and the financial and organizational growth of the companies increase the number of investors as well as amount of investments. Increase the number of investors who have investments worth protecting led to development indepent auditing. The growth of companies has also made it impossible for investors to conduct individual audits. Namely; increasing the number of documents, books, information and documents that investors need to examine in order to reach the right information about the company, and the expertise of examining them make it difficult for the investors to conduct individual examinations. For this reason, independent auditing has emerged and independent auditing has become mandatory for certain companies. Today,it is possible to invest in all the companies that continue to operate in the market as a result of certain procedures. However, all investors can not be entirely aware of the economic situation of the companies. There is no possibility of the investor knowing whether the information given to the investors regarding the company is correct or not. For example; it is difficult for an investor to know whether the buy-sells that appear in the company's books, the fixtures that appear in the company's headquarters and the stock actualy exist. Regarding to the possibilty of making an investment to a company that is in a city which is apart from the city that the investor is coming from, it may be seen how impossible it is to conduct an examination. Here, the importance of organizations that perform independent auditing and independent auditing is increasing. If independent external auditing is exactly recognized, these investors will be able to access more proper information easily and direct their investments accordingly. We have examined the responsibility of independent audit firms in this study with the reasons we have explained above. Due to the fact that the issue of independent audit is a broad subject, our examination restrained with joint -stock companies. In practise, companies subject to compulsory independent audit are established in the form of joint-stock companies in generally. Again,although not subject to compulsory independent audit ,companies that make independent auditing without obligation are joint- stock companies. For this reason, we have examined the issue of independent auditing in terms of joint-stock companies.