KEY AUDIT MATTERS OF INDEPENDENT AUDIT REPORTS AND A RESEARCH ON IMPLEMENTATIONS

Purpose- Due to the need of increasing transparency about the audit reports, the new standart of audit, ‘Key Audit Matters’ has been developed. In this study, the execution of new standart was examined in 2018 is the second year of Key Audit Matters implementation in Turkey. Methodology- In this study, audit reports of publicly traded companies, have been analyzed in terms of Key Audit Matters for the years 2017 and 2018. Findings- According to result of this study, it was observed that standardized, generic or technical matters had been defined as Key Audit Matters, with common details. Conclusion- It was concluded that, the implementation of Key Audit Standard in Turkey would be effective within the years. According to defined standart IAS701, Key Audit Matters should be specified to the entity, in order to provide relevant information to audit report users