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Denetçi Raporunda Önemlilik (Materiality in Auditor Report)

Denetçi Raporunda Önemlilik (Materiality in Auditor Report)

Cetinkaya, Neslihan ORCID: 0000-0003-3589-5636 (2022) Denetçi Raporunda Önemlilik (Materiality in Auditor Report). In: Sakrak, Munir, Kurt, Ganite and Gulec, Omer Faruk, (eds.) Denetçi Raporlarında Güncel Gelişmeler: Uluslararası İnceleme (Recent Developments in Auditor’s Report: International Research). Gazi Kitabevi, Ankara, Turkey, pp. 73-102. ISBN 978-6258374018

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Independent audit is the process of examining financial statements by independent and authorized individuals. Independent auditors, utilizing their experience and expertise in the planning of the audit process and within the scope of their professional judgments, attempt to predict how material misstatements in the relevant financial statements could impact the decisions of financial statement users. There are differences in the perception of materiality among those who prepare financial statements (preparers), those who audit them (auditors), and those who make decisions based on the information in the financial statements (users). The magnitude and impact of these differences have been debated in accounting and auditing since the 1970s. The concept of materiality, both qualitatively and quantitatively, has been frequently discussed in the literature, and so far, neither purely quantitative nor purely qualitative approaches have been universally accepted. The aim of this study is to determine the current state of the concept of materiality in the audit process through the examination of evolving and changing independent auditor reports and to reveal their contributions to financial statement users. After defining the concept of materiality and describing materiality levels, the historical development of prominent issues in the literature is examined. As a practical application, independent auditor reports written for the financial statements of the largest companies in 10 countries were examined, and an evaluation was made regarding materiality both from the perspective of countries and companies. As a result of examining the consolidated and company independent auditor reports within the financial statements or annual reports of 104 companies located on four continents, it was observed that the reports of 24 companies included the auditor's discretionary determination of materiality levels and their justifications.

Item Type: Book Section
Uncontrolled Keywords: audit; materiality
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HB Economic Theory
Faculty / School / Research Centre / Research Group: Faculty of Business
Last Modified: 20 Feb 2024 11:52

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