A research on joint companies without auditing board

The auditing, whose purpose is to report the results of economic activities and events, has various benefits to the enterprise, the public and the society. However, according to the repealed Turkish Commercial Code No. 6762, the audit board, which is one of the mandatory bodys of "joint stock companies" was abolished with the New Turkish Commercial Code No.6102, which entered into force in 2012. It is inevitable that the new system will affect large segments from shareholders of company to the public, excluding those subject to independent audit. The subject of this study is to show the effect of the joint stock companies that do not have a mandatory audit board. For this, two different groups, which are shareholders and managers in joint stock companies that are not subject to independent audit, have been determined. The reason for choosing shareholders and managers is to see the impact of a non-mandatory audit on these two groups that play an important role in the joint stock company. The interview method was used as the research methodology. As a consequence of the research, it has been seen that both shareholders and managers need audit, and shareholders need more audit than the managers. It is shown that the reason for this is that company managers do not have enough information about the decisions they take and the policies they implement. In other words, joint stock company shareholders and managers need a mandatory audit or audit board. For this reason, it is important to consider this issue in the legislative arrangements to be made on this subject.