Independent audit and new Turkish commercial code numbered 6102

At the beginning of the study, audit is mentioned in general, identification of audit and types of audit are signified. Historical development of audit is discussed in both international and domestic basis, necessity of independent audit, its objectives and benefits are explained, international auditing standards and process of independent audit is covered as well. Later domestic and international scandals are pointed out, damages brought by these scandals in terms of businesses, investors and countries are described. Reasons of these cases are examined by means of investors, creditors, financial markets and audit system, consequences are handled. In this part?s second section, regulations executed in USA and Europe as a result of these scandals are expressed in addition to containing audit applications in sectors subjected to independent audit precedent to new commercial code. Finally mentions about advancements brought by new Turkish Commercial Code numbered 6102 to commercial life and new regulations particular to audit field are explained elaborately. Information provided pertaining to Public Oversight Accounting and Auditing Standards Authority on its establishment, organization and governance; explanations made about authorization along with audit activities. In the last part, companies exposed to audit are indicated as a consequence of legislation enacted by council of ministers, criterion to audit requirement is explained via instances. Besides, changes are evaluated before the law is come into force and afterwards, advantages and downsides are endeavored to reveal. Aim of this thesis is to point out importance of independent audit, necessities to it, and advancements brought by new Turkish Commercial Code. Moreover, scrutinization of new regulations? along with succeeding regulations? positive and negative sides and investigating of contributions of Public Oversight Accounting and Auditing Standards Authority to independent audit. Keywords: Auditor, Audit, Independent Audit, Turkish Commercial Code, Public Oversight Accounting and Auditing Standards Authority.