Evidence in Independent Audit and BIST Application

Independent audit is the activity that provides reasonable assurance about reliability and accuracy of information extracted from financial statements. Auditors that perform independent audits should rest their opinion on sufficient and high quality evidence. Evidences auditors obtain constitutes basis for audit opinion. In this paper, annual activity reports of companies enlisted in Borsa Istanbul are examined for period between 2008-2017. Reasons for disclaimer of opinion in exemplifying companies’ audit reports are discussed. Between the period of 2008 and 2017, there is 12 disclaimers of opinions in these companies and in 5 of such instances auditors disclaim expressing an opinion based on not having adequate evidence. Keywords: Auditing, Independent Audit, Evidence in Independent Audit