Independence of the auditor in the framework of international developments

Loss of investors caused by globalization of the capital markets, mergers and acquisitions with international corporations, capital movements, international investment decisions and also economical crisis in some countries; makes the users of financial statements examine the financial data. The effects of international accounting scandals occured in recent years; have mooted the idea of independence of auditors. As a result of this, the need of reorganization of arrangements of the laws about independence of the auditors have occured. Increasing importance of the concept of auditor?s independence first in United States of America then in the European Union; accelerates the formation of the public oversight boards that improves the auditing quality and provides the public trust. In the concept of this work, the principles of independent auditing, international updates and other legislations are reviewed and compared with in the related laws such as the 3568 numbered The Law of Certified Public Accountancy and Sworn in Certified Public Accountancy, Capital Market Board Law, the legislation of Banking Regulation and Supervision Agency, Turkish Commercial Code and the Draft of new Turkish Commercial Code. As a conclusion, the existing problems of independence of auditors were determined and in this context same solutions have been offered. Key Words: Independent Auditing, Independent Auditor, Independence of Auditor