The BDS govern the whole process, from planning and risk assessment to gathering evidence and reporting. For example, BDS 320 covers materiality, BDS 500 audit evidence and BDS 700 the auditor's report.
Because the BDS are aligned with the ISA, audits carried out in Turkey are also accepted by international investors and in group audits.
Related terms
Public Oversight Authority (POA)The public authority in Turkey that sets accounting and auditing standards and authorises and oversees independent auditors and audit firms.Independent auditReasonable assurance provided by an independent auditor on whether the financial statements are presented fairly, in all material respects, in accordance with the applicable financial reporting framework.MaterialityA misstatement being large enough, individually or together with others, to influence the economic decisions of users of the financial statements.Adverse opinionThe opinion in which the auditor states that the financial statements are not presented fairly, where misstatements are both material and pervasive.Agreed-upon proceduresAn engagement in which the practitioner performs procedures agreed with the entity and, where relevant, a third party, and reports only the findings without providing assurance.Analytical proceduresThe evaluation of financial information through analysis of plausible relationships among financial and non-financial data.
Last updated: October 22, 2026 · This definition is for general information only.