A field study on the application of Turkish standards on auditing 500: audit evidence

The essence of internal audit work is the collection and evaluation of sufficient and appropriate audit evidence. It is also made as obligatory by international audit authorities that auditors obtain audit evidence to support their opinions expressed in the independent audit reports. The aim of this study is to explain the Turkish Standards on Auditing 500 (TSA 500): Audit Evidence standard published by Public Oversight Accounting and Auditing Standards Authority (KGK) and to reveal in practice how the standard is perceived and applied by independent auditors who are actively engaged in independent audit services. For this aim, the concept of audit was discussed, the literature on the subject was reviewed and TSA 500 standard was explained in the first two parts of the study. In the practice part of the study, a total 20 research questions, 7 of which were aimed at determining demographic characteristics, were asked to 70 independent auditors who are actively working in Ankara by interview method from qualitative research types. 18 hypotheses were created in this study and 16 hypotheses were accepted and 2 were rejected according to the results of the study contained in the qualitative concept maps obtained with the help of NVIVO 12 program. Accordingly, the variables that affect the quality of the audit evidence are the source, type, quantity, method of obtaining the audit evidence, reliability, consistency and compliance with the need. Within the scope of sub-variables, variables that affect the quality of the audit evidence are independent sources, different and consistent sources, past audit team, accounting system, expert person, original evidence, oral evidence, written evidence, observation method, inquiry method, risk of material misstatement, risky account, sampling risk and effective internal control system. No significant relationship was found in terms of the effect of copy evidence and sample size on the quality of the audit evidence. In the study, crosstab query tables were also created between the demographic variables of the participants and the variables that affect the quality of the audit evidence in NVIVO 12 program. As a result of crosstab query tables, it was found that for each demographic variable examined, the participants in the groups with a large number of participants mentioned more about the main variables affecting the quality of the audit evidence. It is thought that the study will increase the understandability of TSA 500 by independent auditors and contribute the development of the independent audit profession. Keywords: Independent Audit, Audit Evidence, Turkish Standards on Auditing, Turkish Standards on Auditing 500 (TSA 500)