Research Information System
USBIK 2020 3.ULUSLARARASI SOSYAL BİLİMLER KONGRESİ, Kayseri, Turkey, 29 - 31 January 2020, pp.55, (Summary Text)
In the independent audit, the auditor is responsible for obtaining reasonable assurance,where the companies’ financial statements as a whole are free from material misstatement of error or fraud. Therefore, the auditor has to comply with the relevant legislation and auditing standards in order to be considered appropriate and valid and to avoid attitudes and behaviors that may damage the reputation of the audit profession. The Public Oversight, Accounting and Auditing Standards Authority (KGK) and the Islamic Finance Institutions Accounting and Auditing Organization (AAOIF) signed a copyright agreement for the Islamic finance sector accounting, auditing, ethical and governance standards in order to gain legislation to Turkey, on 27 September 2017. According to the agreement; it is intended to assure users about presentation of truthful and needful information on the financial statements of Islamic finance institutions operating in Turkey and financial statements of these organizations, compliance of financial statements of these institutions with Islamic financial accounting standards, religious principles and rules. This study was researched on properties and the development of Islamic finance audits in the World and Turkey, in order to set an example for the subject, independent auditing standards in traditional financial institutions and independent auditing standards in Islamic financial institutions were analyzed by content analysis method.As a result of this qualitative study, the Islamic financial audit standard (FFDS 5), which was prepared by the KGK and published in the Law Publication No. 30978 dated 14 December 2019, has completed the Independent Auditing Standards regarding the responsibility of auditors for error and fraud related to independent audit activities. It was concluded that the primary responsibility for the prevention and detection of errors and fraud lies with those responsible for management or senior management, however, the auditor may be held liable for negligence and defective behavior.