Key audit matters in independent audit reports: An analysis on BIST-sports indexed companies

Companies have tended to make systematic and comprehensive plans against possible economic crises from the past to the present. A number of innovations have been introduced in the field of auditing in order to avoid the negative consequences of economic depressions in the national and international arena and to prevent the reoccurrence of the problems. The fact that the information obtained from the independent audit reports is within the scope of current standards and is understandable increases the importance of key audit matters. The aim of this study is to consider the key audit issues in the independent auditor reports in terms of companies traded in the BIST-Spor index. In this direction, the key audit issues included in the independent auditor reports of the companies traded in the BIST-Spor index (Beşiktaş A.Ş., Fenerbahçe A.Ş., Galatasaray A.Ş., Trabzonspor A.Ş.) for the years 2017-2021 were analyzed with the content analysis method. According to the results of the analysis, Galatasaray A.Ş. (12), respectively, this sports club Fenerbahce A.Ş. (10), Beşiktaş A.Ş. (9) and Trabzonspor A.Ş. It was determined that (7) followed. In addition, it is seen that the issue of accounting for revenue is the most frequently mentioned key audit issue in the reports of independent auditors for all four sports clubs. Moreover, accounting for litigation provisions, impairment of intangible assets, impairment in inventories and auditing of auditor transitions and opening balances are other key audit issues included in the independent auditor's reports of these sports clubs.