THE EFFECTS OF HYPERINFLATION ON FINANCIAL REPORTING AND AUDIT PRACTICES: EVIDENCE FROM TÜRKİYE

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Journal of Research in Business
Cilt: 10 Sayı: 1
THE EFFECTS OF HYPERINFLATION ON FINANCIAL REPORTING AND AUDIT PRACTICES: EVIDENCE FROM TÜRKİYE

THE EFFECTS OF HYPERINFLATION ON FINANCIAL REPORTING AND AUDIT PRACTICES: EVIDENCE FROM TÜRKİYE

Pages : 166-194

View : 41 | Download : 67

Publication Date : 2025-06-23

Article Type : Research Paper

Abstract :The purpose of this paper is to reveal the impact and reflections of a hyperinflationary economy, thus hyperinflationary accounting on annual financial reports and independent auditor’s reports in Turkey for the year 2023 regarding IAS 29 Financial Reporting in Hyperinflationary Economies, and International Standard on Auditing (ISA) 701-Communicating Key Audit Matters in the Independent Auditor’s Report & (ISA) 706- Emphasis of Matter Paragraphs in the Independent Auditor’s Report. This study concerns a relatively emerging topic and an additional specific area for which there are a few studies peculiar to each country’s economy. The empirical findings of this study are significant in that they provide a complete map from a broader research perspective. The study adds to the literature by providing valuable insights and content about the matter of hyperinflation which is an ongoing problem in the long term as regards financial reporting and independent auditing. Moreover, it raises awareness about the reporting challenges of hyperinflation for the prospective hyperinflationist periods that might occur in the foreseeable future.
Keywords : finansal raporlama, hiperenflasyonist ekonomi, bağımsız denetç, raporu, TMS 29, bds 701 & 706

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