The role of independent auditing in corporate governance and legal principles

The purpose of this master thesis study is to define the role of independent audit in corporate governance in the legal framework while explaining the role of independent audit in the process of corporate governance development. In the first chapter, corporate governance and audit concepts, historical and theoretical perspective and examined the results, corporate governance, legal applications, it is seen that vary due to differences. However, the concept of an independent audit, in corporate governance, deterrent, informative, and it was determined that protecting economic functions. In the second chapter, the role of independent auditing in corporate governance, the fraud in accounting and financial reporting, the legal relationship between the risk and audit processes and the audit contract in terms of company management and auditing, and the ethical rules of this legal relationship are explained and the level of application of ethical rules in the world has been informed. In this section, in the Capital Markets Law no. 6362 which expresses the legal consequences to be occurred in case of not having the theoretical and legal audit behaviors, and the penalties for the crimes regulated in other American laws such as Sarbanes-Oxley Act and the place of the independent auditors in these crimes and the auditors in the matters related to audit the crimes they can commit and the ways of trial. This review is conducted both in Turkish law and in the framework of American law and international standards and is largely similar. This is because international standards have provided uniformity in this area in the country's legal systems. In the third chapter, in order to reinforce the theoretical and legal knowledge obtained in the previous sections, Enron, Parmalat and Royal Ahold incidents with Uzan Holding and events Pamuk from Turkey, accounting and financial reporting standards, the company board of directors and independent auditors in terms of factors were examined separately.. As a result, it was revealed that the differences of legal system differences in the pre-legal regulations were not different between the company managers and the independent auditors' approach to fraudulent transactions, but were managed by the family business or professional CEOs. As a result, independent auditing in corporate governance enables reliable information for the financial results of the business processes, as well as the ability to protect the public interest, the country and the world economies in the long term, as well as the impact of fraudulent transactions and the initiation of the judicial process. offers a wider range of services. Therefore, independent audit is an integral part of corporate governance.