Turkey's Public Oversight, Accounting and Auditing Standards Authority has updated a range of Independent Auditing Standards. The updates cover a wide range of topics, ranging from general audit objectives through to detailed aspects of auditing activities.

The updated Independent Auditing Standards are below.

Official Gazette Date

Independent Auditing Standards

7 December 2017

BDS 200: General Objectives of the Independent Auditor and Conduct of Independent Audit in Accordance with Independent Auditing Standards

BDS 220: Quality Control in Independent Audit of Financial Statements

BDS 230: Documentation of Independent Audit

8 December 2017

BDS 320: Significance in the Planning and Execution of Independent Audit

BDS 330: Tasks that the Independent Auditor will take in case of the issue considered as a risk

11 December 2017

BDS 800: Special Issue- Independent Audit of Financial Statements Prepared for Special Purpose Frames

BDS 810: Auditing to Make a Report regarding Summary Financial Tables

13 December 2017

BDS 300: Planning of Independent Audit of Financial Statements

BDS 315: Determination and Evaluation of Important Accidental Risks by Identification of Business and Environment

BDS 450: Evaluation of Errors Determined During the Execution of Independent Audit

BDS 500: Independent Audit Evidence

BDS 510: First Independent Audits - Opening Balance BDS 560: Events Occurring After the Balance Sheet Date

BDS 580: Written Statements

16 December 2017

BDS 240: Responsibilities of the Independent Auditor for the Fraud in the Independent Audit of Financial Statements

BDS 805: Special Issues - Independent Audit of a Single Financial Statement and Independent Audit of Certain Elements, Accounts or Items in the Financial Tables

The updated Independent Auditing Standards each entered into force on the date they were published in the Official Gazette.

The full text of the Communiqué can be found in the links above (only available in Turkish).

Information first published in the  MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.