A study on determination of independent auditors' perception and knowledge level about BOBI FRS: İstanbul city case

Thanks to globalization, like other areas, the barriers and obstacles are disappearing for companies in the field of trade. International Accounting Standards targets to satisfy the need for common language, elimination of differences, transparent and open information. The similar reporting system agreed by everyone can satisfy the need of information of all sides. Turkey has been trying for such a long time in the same manner as the rest of the world to successfully adapt the International Accounting Standards which enables comparability. International Accounting Standards had been kept compulsory for only companies regulated under SPK (Capital Market Regulator) until new Turkish Commerce Law (TTK) put in practice. The scope of International Accounting Standards usage had been broadened to include all public companies after the arrival of TTK. However, because of the hardship encountered after the implementation, a new revision had to be done to restrict the practice only to companies operating in the scope of KAYIK (Companies is related to public interest). BOBİ FRS was started to be implemented in 2007 for middle and big size companies to satisfy the need of the modern World and to have the qualified financial reports. It will be possible with BOBİ FRS to do reporting according to the expectation of firstly users of financial information and also all other sides. That is why, it is very important to determine if the similar hardships experienced with TFRS will arisen again during the transferring period of BOBİ FRS. The aim of this study to get an idea about the readiness for changes with the arrival of BOBİ FRS. For this purpose, A survey fulfilled on independent auditors working for audit companies to estimate the level of their knowledge about BOBİ FRS and to see What sort of negative and positive effects will come out after implementation of BOBİ FRS.