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- Title
BAĞIMSIZ DENETÇİNİN HUKUKİ SORUMLULUĞUNUN SINIRLANMASI VE BAĞIMSIZ DENETİM DÜZENLEME POLİTİKASINA ETKİLERİ.
- Authors
MANAVGAT, Çağlar
- Abstract
The assurance function of independent audit regarding the audited financial statements and the annual report of the board of directors has a decisive effect on the decisions of financial statement users. The audited statements are prepared by the company's management and audited by independent auditors as stipulated in auditing standards and relevant legislation; the audit results are disclosed in the report. Since the independent audit contract is made between the auditor and the audited company, the independent auditor has a contractual responsibility towards the company. Apart from this, the independent auditor's framework of responsibility towards third parties based on the independent audit report is very wide. Historically, US and UK judicial precedents have developed to limit the independent auditor's liability to third parties; in some countries, the independent auditor's liability is allowed to be limited by contract, as well as limitations by compensation limits set by law. A Recommendation on limiting liability has also been published at EU level. Limiting the liability of the independent auditor is also an important tool of the independent audit regulation policy. It is possible to limit the independent auditor's liability by various methods. In this study, the effects of limiting the liability of the independent auditor by contract or legal provisions on the independent audit regulation policy were examined and an evaluation was made in terms of Turkish law.
- Publication
Banking & Commercial Law Journal / Banka ve Ticaret Hukuk Dergisi, 2024, Vol 39, Issue 4, p871
- ISSN
1300-1396
- Publication type
Article