THE ROLE OF AUDIT COMMITTEE ACTIVITIES IN CORPORATE GOVERNANCE
DENETİM KOMİTESİ FAALİYETLERİNİN KURUMSAL YÖNETİMDEKİ ROLÜ

Author : Suat KILIÇ -Hasan TÜREDİ
Number of pages : 435-459

Abstract

Beginning with the 21st century, the increase of fraudulent misconduct in enterprises in developed countries brought to the agenda to review auditing practices together with corporate governance. Especially since the 1990s, a risk-based audit approach has been adopted in enterprises to protect the rights of all stakeholders and create a more transparent financial reporting infrastructure. Within the framework of this approach, many law-making authorities have made new regulations. 6102 Turkish Commercial Code (TTK), entered into force in Turkey in 2011, has adopted an approach that encourages the corporate issues of the management structure of the company in parallel with the developments in the world. However, the company included the establishment of management committees under the board of directors that support management practices. Audit Committee is the most important committee, which establishes a more transparent management of businesses and to strengthen the accountability of the board of directors to all stakeholders within the framework. Within the scope of this study, it will be tried to explain the contribution of the audit committees formed in an independent framework to the development of corporate governance in enterprises. Because, the basis of economic development is to encourage the increase of enterprises with higher standards of corporate governance.

Keywords

Corporate Governance, Independence, Non-Executive Directors, Internal Control, Audit, Audit Committee

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