An Attempt to Understand Compliance Degree of Implementing International Standards in Accountancy; The Turkey Experience

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Atıf İçin Kopyala

Pekdemir R., Türel A.

ACADEMY OF ACCOUNTING AND FINANCIAL STUDIES JOURNAL, cilt.18, sa.1, ss.49-63, 2014 (Scopus)

• Yayın Türü: Makale / Tam Makale
• Cilt numarası: 18 Sayı: 1
• Basım Tarihi: 2014
• Dergi Adı: ACADEMY OF ACCOUNTING AND FINANCIAL STUDIES JOURNAL
• Derginin Tarandığı İndeksler: Scopus
• Sayfa Sayıları: ss.49-63
• İstanbul Üniversitesi Adresli: Evet

Özet

Some of the prior studies showed a great deal of non-compliance with international standards related to accountancy. This paper contributes to understanding the compliance degree of implementing international standards in Turkey through the quality control activities (2008-2009-2010-2011) of the Capital Market Board (CMB). In addition, we seek some evidence to find out the dominant party (reporting entity, accounting firm, CMB) over the reporting practices of listed companies and auditing practices of accounting firms in Turkey. The quality control activities of the CMB showed that the implementation of the IFRSs and ISAs were inefficient in Turkey, so the audit firms were cautioned, punished, or their licenses cancelled. We concluded that the compliance degree of the implementing international standards will depend on the knowledge level of the CMB Officio in Turkey. Therefore the CMB or regulator has been dominant over the reporting entity, not the audit firm nor the reporting entity.