Increased Uncertainty Environment During the COVID-19 Pandemic Period and Its Effect on Key Audit Matters: BIST 100 Companies Analysis
The Key Audit Matters (KAMs) section of the audit report aims to provide more information to stakeholders about important and critical matters in the audit process, thereby contributing to the preparation of more transparent and high-quality audit reports. The auditor explains any matters relating t...
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| Format: | Article |
| Language: | English |
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Istanbul University Press
2022-01-01
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| Series: | Muhasebe Enstitüsü Dergisi |
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| Online Access: | https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/F3ED3703C7144F45A7306BDE92D43F85 |
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| _version_ | 1850187470509965312 |
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| author | Deniz Özbay |
| author_facet | Deniz Özbay |
| author_sort | Deniz Özbay |
| collection | DOAJ |
| description | The Key Audit Matters (KAMs) section of the audit report aims to provide more information to stakeholders about important and critical matters in the audit process, thereby contributing to the preparation of more transparent and high-quality audit reports. The auditor explains any matters relating to uncertainty and risk in the KAM paragraph. This study aims to examine the effect of increasing levels of uncertainty in this environment during the COVID-19 period on the KAMs disclosures of the BIST-100 companies. In line with this purpose, the KAMs disclosures of companies for 2019 and 2020 were compared and the results were interpreted. The content analysis technique was used in the study and data were collected from independent audit reports of companies. According to the results “revenue recognition”, “financial instruments”, and “property, plant and equipment” were the most frequently reported topics in the KAMs for both periods. Furthermore, it was determined that the share of accounting estimates, which were expected to be most affected by uncertainty, increased in the KAM paragraphs. |
| format | Article |
| id | doaj-art-7f3d3566d0f64ec5aebad47c46150c0a |
| institution | OA Journals |
| issn | 2667-6982 |
| language | English |
| publishDate | 2022-01-01 |
| publisher | Istanbul University Press |
| record_format | Article |
| series | Muhasebe Enstitüsü Dergisi |
| spelling | doaj-art-7f3d3566d0f64ec5aebad47c46150c0a2025-08-20T02:16:06ZengIstanbul University PressMuhasebe Enstitüsü Dergisi2667-69822022-01-0166496310.26650/MED.1023848123456Increased Uncertainty Environment During the COVID-19 Pandemic Period and Its Effect on Key Audit Matters: BIST 100 Companies AnalysisDeniz Özbay0https://orcid.org/0000-0003-4643-7577Maltepe Üniversitesi, Istanbul, TurkiyeThe Key Audit Matters (KAMs) section of the audit report aims to provide more information to stakeholders about important and critical matters in the audit process, thereby contributing to the preparation of more transparent and high-quality audit reports. The auditor explains any matters relating to uncertainty and risk in the KAM paragraph. This study aims to examine the effect of increasing levels of uncertainty in this environment during the COVID-19 period on the KAMs disclosures of the BIST-100 companies. In line with this purpose, the KAMs disclosures of companies for 2019 and 2020 were compared and the results were interpreted. The content analysis technique was used in the study and data were collected from independent audit reports of companies. According to the results “revenue recognition”, “financial instruments”, and “property, plant and equipment” were the most frequently reported topics in the KAMs for both periods. Furthermore, it was determined that the share of accounting estimates, which were expected to be most affected by uncertainty, increased in the KAM paragraphs.https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/F3ED3703C7144F45A7306BDE92D43F85key audit mattersaccounting estimatesindependent audit reports |
| spellingShingle | Deniz Özbay Increased Uncertainty Environment During the COVID-19 Pandemic Period and Its Effect on Key Audit Matters: BIST 100 Companies Analysis Muhasebe Enstitüsü Dergisi key audit matters accounting estimates independent audit reports |
| title | Increased Uncertainty Environment During the COVID-19 Pandemic Period and Its Effect on Key Audit Matters: BIST 100 Companies Analysis |
| title_full | Increased Uncertainty Environment During the COVID-19 Pandemic Period and Its Effect on Key Audit Matters: BIST 100 Companies Analysis |
| title_fullStr | Increased Uncertainty Environment During the COVID-19 Pandemic Period and Its Effect on Key Audit Matters: BIST 100 Companies Analysis |
| title_full_unstemmed | Increased Uncertainty Environment During the COVID-19 Pandemic Period and Its Effect on Key Audit Matters: BIST 100 Companies Analysis |
| title_short | Increased Uncertainty Environment During the COVID-19 Pandemic Period and Its Effect on Key Audit Matters: BIST 100 Companies Analysis |
| title_sort | increased uncertainty environment during the covid 19 pandemic period and its effect on key audit matters bist 100 companies analysis |
| topic | key audit matters accounting estimates independent audit reports |
| url | https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/F3ED3703C7144F45A7306BDE92D43F85 |
| work_keys_str_mv | AT denizozbay increaseduncertaintyenvironmentduringthecovid19pandemicperiodanditseffectonkeyauditmattersbist100companiesanalysis |