Turkey - Report on the Observance of Standards and Codes : Accounting and Auditing
As work on the economics of information' demonstrates, enhancing the reliability and availability of financial reporting is conducive to economic growth and mitigating the risk of financial system instability. In that context, this report prov...
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| Format: | Accounting and Auditing Assessment (ROSC) |
| Language: | English |
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Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2007/03/15643344/turkey-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/7927 |
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okr-10986-7927 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCOUNT ACCOUNTANCY ACCOUNTANT ACCOUNTANTS ACCOUNTING ACCOUNTING FRAMEWORK ACCOUNTING POLICIES ACCOUNTING RECORDS ACCOUNTING STANDARDS ACCOUNTS ACQUISITIONS AMOUNT OF CAPITAL AUDIT STANDARDS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROCEDURES AUDITING STANDARDS AUDITORS AUDITS BALANCE SHEET BANK LENDING BANKING ASSETS BANKING CRISIS BANKING LAW BANKING REGULATION BANKING REGULATIONS BANKING SECTOR BANKING SUPERVISION BOOKKEEPING BORROWER BUSINESS ADMINISTRATION BUSINESS COMMUNITY CAPITAL ADEQUACY CAPITAL MARKET CAPITAL MARKET LAW CAPITAL MARKETS CASH FLOW CASH FLOW STATEMENTS CENTRAL BANK CERTIFIED PUBLIC ACCOUNTANTS CHECKS COLLATERAL COMMERCIAL CODE COMPANY LAW CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CONTINGENT LIABILITY CORPORATE GOVERNANCE CORPORATE LAW CREDIBILITY CREDIT INSTITUTIONS CREDIT RATING CREDIT RATING AGENCIES DEBTS DEPOSIT DEPRECIATION DISCLOSURE REQUIREMENTS EMPLOYMENT ENFORCEMENT MECHANISMS ENFORCEMENT PROCESS EQUIPMENT EXCHANGE RATE EXTERNAL AUDITORS FACTORING FINANCIAL AUTONOMY FINANCIAL CRISES FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL LEASING FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL STRUCTURE FINANCIAL SYSTEM FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY RISK FOREIGN EXCHANGE FRAUD GOOD PRACTICE GOOD PRACTICES GROSS DOMESTIC PRODUCT INFLATION INFORMATION SYSTEM INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL INVESTORS INTERNATIONAL STANDARDS INVESTMENT BANKS INVESTMENT FUNDS INVESTOR CONFIDENCE JOINT STOCK COMPANIES JOINT STOCK COMPANY LAWS LEGAL FRAMEWORK LEGISLATION LENDER LENDERS LENDING DECISIONS LEVEL OF RISK LIMITED PARTNERSHIP LIQUIDITY LIQUIDITY RATIOS LOAN LOCAL CURRENCY LONG-TERM INVESTMENT MARKET CAPITALIZATION MARKET PARTICIPANTS MONETARY FUND MUTUAL FUNDS OFFSITE SUPERVISION OWNERSHIP STRUCTURES PENALTIES PENSION PENSION FUNDS PRIVATE BANKS PRIVATIZATION PRUDENTIAL SUPERVISION PURCHASING QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL REAL SECTOR REGULATORY AUTHORITY REGULATORY FRAMEWORK RESOURCE ALLOCATION RETURNS RISK EXPOSURE RISK MANAGEMENT SECURITIES SHAREHOLDERS STATUTORY AUDITORS STOCK EXCHANGE STOCKS SUPERVISION OF BANKS SUPERVISORY AGENCY SUPERVISORY AUTHORITIES SUPERVISORY BOARD TAX TAX CREDIT TAX LAWS TAXATION TRADING TRANSPARENCY TREASURY TURNOVER UNLIMITED LIABILITY |
| spellingShingle |
ACCOUNT ACCOUNTANCY ACCOUNTANT ACCOUNTANTS ACCOUNTING ACCOUNTING FRAMEWORK ACCOUNTING POLICIES ACCOUNTING RECORDS ACCOUNTING STANDARDS ACCOUNTS ACQUISITIONS AMOUNT OF CAPITAL AUDIT STANDARDS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROCEDURES AUDITING STANDARDS AUDITORS AUDITS BALANCE SHEET BANK LENDING BANKING ASSETS BANKING CRISIS BANKING LAW BANKING REGULATION BANKING REGULATIONS BANKING SECTOR BANKING SUPERVISION BOOKKEEPING BORROWER BUSINESS ADMINISTRATION BUSINESS COMMUNITY CAPITAL ADEQUACY CAPITAL MARKET CAPITAL MARKET LAW CAPITAL MARKETS CASH FLOW CASH FLOW STATEMENTS CENTRAL BANK CERTIFIED PUBLIC ACCOUNTANTS CHECKS COLLATERAL COMMERCIAL CODE COMPANY LAW CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CONTINGENT LIABILITY CORPORATE GOVERNANCE CORPORATE LAW CREDIBILITY CREDIT INSTITUTIONS CREDIT RATING CREDIT RATING AGENCIES DEBTS DEPOSIT DEPRECIATION DISCLOSURE REQUIREMENTS EMPLOYMENT ENFORCEMENT MECHANISMS ENFORCEMENT PROCESS EQUIPMENT EXCHANGE RATE EXTERNAL AUDITORS FACTORING FINANCIAL AUTONOMY FINANCIAL CRISES FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL LEASING FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL STRUCTURE FINANCIAL SYSTEM FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY RISK FOREIGN EXCHANGE FRAUD GOOD PRACTICE GOOD PRACTICES GROSS DOMESTIC PRODUCT INFLATION INFORMATION SYSTEM INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL INVESTORS INTERNATIONAL STANDARDS INVESTMENT BANKS INVESTMENT FUNDS INVESTOR CONFIDENCE JOINT STOCK COMPANIES JOINT STOCK COMPANY LAWS LEGAL FRAMEWORK LEGISLATION LENDER LENDERS LENDING DECISIONS LEVEL OF RISK LIMITED PARTNERSHIP LIQUIDITY LIQUIDITY RATIOS LOAN LOCAL CURRENCY LONG-TERM INVESTMENT MARKET CAPITALIZATION MARKET PARTICIPANTS MONETARY FUND MUTUAL FUNDS OFFSITE SUPERVISION OWNERSHIP STRUCTURES PENALTIES PENSION PENSION FUNDS PRIVATE BANKS PRIVATIZATION PRUDENTIAL SUPERVISION PURCHASING QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL REAL SECTOR REGULATORY AUTHORITY REGULATORY FRAMEWORK RESOURCE ALLOCATION RETURNS RISK EXPOSURE RISK MANAGEMENT SECURITIES SHAREHOLDERS STATUTORY AUDITORS STOCK EXCHANGE STOCKS SUPERVISION OF BANKS SUPERVISORY AGENCY SUPERVISORY AUTHORITIES SUPERVISORY BOARD TAX TAX CREDIT TAX LAWS TAXATION TRADING TRANSPARENCY TREASURY TURNOVER UNLIMITED LIABILITY World Bank Turkey - Report on the Observance of Standards and Codes : Accounting and Auditing |
| geographic_facet |
Europe and Central Asia Turkey |
| description |
As work on the economics of
information' demonstrates, enhancing the reliability
and availability of financial reporting is conducive to
economic growth and mitigating the risk of financial system
instability. In that context, this report provides an
assessment of accounting and auditing standards and
practices in Turkey. It uses International Financial
Reporting Standards (IFRS) and International Standards on
Auditing (ISA) as benchmarks and draws on good practices in
the field of accounting and audit regulation to assess the
quality of financial information and make policy
recommendations. For European Union (EU) candidate countries
such as Turkey, the assessment also has regard to the
relevant requirements of EU law (also known as the acquis
communautaire). There has been significant progress in
recent years in improving the environment and framework for
financial reporting in Turkey and currently further
wide-scale reforms are in progress. In particular, a new
draft commercial code will modernize statutory regulation of
company financial reporting and will set a major challenge
for the accounting and auditing professions in Turkey
through the requirement to apply Turkish Accounting
Standards based on IFRS and audits based in international
Standards of Auditing (ISA). |
| format |
Economic & Sector Work :: Accounting and Auditing Assessment (ROSC) |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Turkey - Report on the Observance of Standards and Codes : Accounting and Auditing |
| title_short |
Turkey - Report on the Observance of Standards and Codes : Accounting and Auditing |
| title_full |
Turkey - Report on the Observance of Standards and Codes : Accounting and Auditing |
| title_fullStr |
Turkey - Report on the Observance of Standards and Codes : Accounting and Auditing |
| title_full_unstemmed |
Turkey - Report on the Observance of Standards and Codes : Accounting and Auditing |
| title_sort |
turkey - report on the observance of standards and codes : accounting and auditing |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2007/03/15643344/turkey-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/7927 |
| _version_ |
1764403638832201728 |
| spelling |
okr-10986-79272021-04-23T14:02:36Z Turkey - Report on the Observance of Standards and Codes : Accounting and Auditing World Bank ACCOUNT ACCOUNTANCY ACCOUNTANT ACCOUNTANTS ACCOUNTING ACCOUNTING FRAMEWORK ACCOUNTING POLICIES ACCOUNTING RECORDS ACCOUNTING STANDARDS ACCOUNTS ACQUISITIONS AMOUNT OF CAPITAL AUDIT STANDARDS AUDITED FINANCIAL STATEMENTS AUDITING AUDITING PROCEDURES AUDITING STANDARDS AUDITORS AUDITS BALANCE SHEET BANK LENDING BANKING ASSETS BANKING CRISIS BANKING LAW BANKING REGULATION BANKING REGULATIONS BANKING SECTOR BANKING SUPERVISION BOOKKEEPING BORROWER BUSINESS ADMINISTRATION BUSINESS COMMUNITY CAPITAL ADEQUACY CAPITAL MARKET CAPITAL MARKET LAW CAPITAL MARKETS CASH FLOW CASH FLOW STATEMENTS CENTRAL BANK CERTIFIED PUBLIC ACCOUNTANTS CHECKS COLLATERAL COMMERCIAL CODE COMPANY LAW CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATION CONTINGENT LIABILITY CORPORATE GOVERNANCE CORPORATE LAW CREDIBILITY CREDIT INSTITUTIONS CREDIT RATING CREDIT RATING AGENCIES DEBTS DEPOSIT DEPRECIATION DISCLOSURE REQUIREMENTS EMPLOYMENT ENFORCEMENT MECHANISMS ENFORCEMENT PROCESS EQUIPMENT EXCHANGE RATE EXTERNAL AUDITORS FACTORING FINANCIAL AUTONOMY FINANCIAL CRISES FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL LEASING FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL STRUCTURE FINANCIAL SYSTEM FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY RISK FOREIGN EXCHANGE FRAUD GOOD PRACTICE GOOD PRACTICES GROSS DOMESTIC PRODUCT INFLATION INFORMATION SYSTEM INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE INTERNATIONAL INVESTORS INTERNATIONAL STANDARDS INVESTMENT BANKS INVESTMENT FUNDS INVESTOR CONFIDENCE JOINT STOCK COMPANIES JOINT STOCK COMPANY LAWS LEGAL FRAMEWORK LEGISLATION LENDER LENDERS LENDING DECISIONS LEVEL OF RISK LIMITED PARTNERSHIP LIQUIDITY LIQUIDITY RATIOS LOAN LOCAL CURRENCY LONG-TERM INVESTMENT MARKET CAPITALIZATION MARKET PARTICIPANTS MONETARY FUND MUTUAL FUNDS OFFSITE SUPERVISION OWNERSHIP STRUCTURES PENALTIES PENSION PENSION FUNDS PRIVATE BANKS PRIVATIZATION PRUDENTIAL SUPERVISION PURCHASING QUALITY ASSURANCE QUALITY AUDITS QUALITY CONTROL REAL SECTOR REGULATORY AUTHORITY REGULATORY FRAMEWORK RESOURCE ALLOCATION RETURNS RISK EXPOSURE RISK MANAGEMENT SECURITIES SHAREHOLDERS STATUTORY AUDITORS STOCK EXCHANGE STOCKS SUPERVISION OF BANKS SUPERVISORY AGENCY SUPERVISORY AUTHORITIES SUPERVISORY BOARD TAX TAX CREDIT TAX LAWS TAXATION TRADING TRANSPARENCY TREASURY TURNOVER UNLIMITED LIABILITY As work on the economics of information' demonstrates, enhancing the reliability and availability of financial reporting is conducive to economic growth and mitigating the risk of financial system instability. In that context, this report provides an assessment of accounting and auditing standards and practices in Turkey. It uses International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) as benchmarks and draws on good practices in the field of accounting and audit regulation to assess the quality of financial information and make policy recommendations. For European Union (EU) candidate countries such as Turkey, the assessment also has regard to the relevant requirements of EU law (also known as the acquis communautaire). There has been significant progress in recent years in improving the environment and framework for financial reporting in Turkey and currently further wide-scale reforms are in progress. In particular, a new draft commercial code will modernize statutory regulation of company financial reporting and will set a major challenge for the accounting and auditing professions in Turkey through the requirement to apply Turkish Accounting Standards based on IFRS and audits based in international Standards of Auditing (ISA). 2012-06-13T18:28:59Z 2012-06-13T18:28:59Z 2007-03 http://documents.worldbank.org/curated/en/2007/03/15643344/turkey-report-observance-standards-codes-rosc-accounting-auditing http://hdl.handle.net/10986/7927 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Accounting and Auditing Assessment (ROSC) Economic & Sector Work Europe and Central Asia Turkey |