Öz
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.
Anahtar Kelimeler
financial reporting hyperinflationary economy independent auditor's report IAS 29 ISA 701 & 706
Kaynakça
- Akçin, O. (2023). Financial reporting in hyperinflationary economies under IFRS. The Journal of Accounting and Finance, 100, 57-86, doi: 10.25095/mufad.1328760.
- Bochkay, K., Brown, S.V., Leone, A.J., Tucker, J.W. (2023). Textual analysis in accounting: What is next? Contemporary Accounting Research, 40(2), 765-805, doi: 10.1111/1911-3846.12825.
- Chamisa, E., Mangena, M., Pamburai, H.H., & Tauringana, V. (2018). Financial reporting in hyperinflationary economies and the value relevance accounting amounts: hard evidence from Zimbabwe. Review Accounting Studies, 23, 1241-1273, doi:10.1007/s11142.018.9460-4.
- Gökten, S., Gökten, P.O., Mollaoğulları, B. (2023). Inventories and inflation accounting application: an evaluation on BIST30 manufacturing enterprises. Journal of Business Research-Turk, 15(1), 718-731, doi: 10.20491/isarder.2023.1614.
- Hasanov, M. (2008). Effects of inflation uncertainty on output: the case of Turkey. Journal of Dogus University, 9(2), 191-206.
- IAASB (2015). International standard on auditing (ISA) 701 (NEW), communicating key audit matters in the independent auditor’s report. available at https://www.iaasb.org/publications/international-standard-auditing-isa-701-new-communicating-key-audit-matters-independent-auditor-s-3
- IAASB (2015). International standard on auditing (ISA) 706 (REVISED). emphasis on matter paragraphs and other matter paragraphs in the independent auditor’s report, available at https://www.iaasb.org/ publications/international-standard-auditing-isa-706-revised-emphasis-matter-paragraphs-and-other-matter
- IASB (2001). International accounting standard (IAS 29). financial reporting in hyperinflationary economies, available at https://www.ifrs.org/issued-standards/list-of-standards/ias-29-financial-reporting-in-hyperinflationary-economies/
- Keleş, D. (2015). Correction of the financial Statements within the scope of TAS 29: financial reporting standard in hyperinflationary economies and its effects on financial analysis results. Uşak University Journal of Social Sciences, 8(3), 31-52
- Kramarova, K. (2021). The global problem of inflation and need for inflation adjusted-financial reporting, paper presented at the 21st International Scientific Conference Globalization and its Socio-Economic Consequences 2021. October 13-14, 2021, Zilina, Slovak Republic, available at: https://www.shs-conferences.org/articles/shsconf/abs/2021/40/contents/contents.html; (accessed 20 July 2024).
- Loughran, T., McDonald, B. (2016). Textual analysis in accounting and finance: A survey. Journal of Accounting Research, 54(4), 1187-1230, doi: 10.1111/1475-679X.12123.
- Mihaela, D. (2014). IAS 29 Financial reporting in hyperinflationary economies – analysis and implications of accounting, tax and legal. Economic Sciences Series, 14(2), 483-488.
- Peker, A.A. (2023). Inflation accounting within the framework of financial reporting standards in hyperinflatıonary economies: Borsa Istanbul an application. Journal of Aksaray University Vocational School of Social Sciences, 1(1), 31-48.
- PwC (2022). Discloses PwC’s online magazine. hyperinflation in Turkey, PricewaterhouseCoopers, Switzerland, available at https://www.pwc.ch/en/insights/disclose/33/hyperinflation-in-turkey.html
- PwC (2024). Hyperinflationary economies as at December 2024, PricewaterhouseCoopers, Global, available at https://viewpoint.pwc.com/dt/gx/en/pwc/in_briefs/in_briefs_INT/in_briefs_INT/hyperinflationary-economies-as-at-december-2024.html#pwc-topic.dita_dce1bdf5-5233-4596-b17e-40c4fc3aa333
- Stajanova, P., Popovski, N., Petreska, L. (2022). Financial reporting in terms of inflation accounting. International Dialogue: East-West, 9(1), 129-137.
- Trajkovska, O.G., Koleva, B., Svrtinov, V.G. (2018). Financial reporting in hyperinflationary economies. Journal of Economics, 3(2), 50-57.
- Umut, E. (2024). IAS 29 Financial reporting standard in high inflation economies: a hypothetical study. Journal of Economics and Business Issues, 4(1), 86-112.
- Varol, N. (2022). Inflation accounting in terms of tax legislation and accounting standards in Turkey. The Journal of Accounting and Finance, 93, 19-30, doi:10.25095/mufad.979514.
HİPERENFLASYONUN FİNANSAL RAPORLAMA VE DENETİM UYGULAMALARI ÜZERİNDEKİ ETKİLERİ: TÜRKİYE'DEN ÖRNEKLER
Öz
Bu çalışmanın amacı, TMS 29 Yüksek Enflasyonlu Ekonomilerde Finansal Raporlama ve BDS 701-Bağımsız Denetçi Raporunda Kilit Denetim Konularının Bildirilmesi ve BDS 706- Bağımsız Denetçi Raporunda Yer Alan Dikkat Çekilen Hususlar ve Diğer Hususlar Paragrafları Standartları uyarınca, Türkiye'de 2023 yılına ilişkin yıllık finansal raporlar ve bağımsız denetim raporları üzerinde hiperenflasyonist ekonominin, dolayısıyla hiperenflasyon muhasebenin etkisini ve yansımalarını ortaya koymaktır. Araştırma konusu, yakın bir zamanda ortaya çıkmış olan ve her ülke ekonomisinin kendine özgü birkaç çalışmanın bulunduğu spesifik bir çalışma alanını kapsamaktadır. Çalışmanın ampirik bulguları, araştırma konusu ile ilgili olarak oldukça geniş bir araştırma perspektifinden bir yol haritası sunması açısından önemlidir. Çalışma, finansal raporlama ve bağımsız denetim açısından devam eden bir sorun olan hiperenflasyon konusunda önemli bilgiler ve içerikler sunarak literatüre katkıda bulunmaktadır. Ayrıca, çalışma yakın gelecekte meydana gelebilecek olası hiperenflasyonist dönemler için hiperenflasyonist ekonomi ortamının finansal raporlamada yaratacağı zorluklar hakkında farkındalığı da arttırmaktadır.
Anahtar Kelimeler
finansal raporlama hiperenflasyonist ekonomi bağımsız denetç, raporu TMS 29 bds 701 & 706
Kaynakça
- Akçin, O. (2023). Financial reporting in hyperinflationary economies under IFRS. The Journal of Accounting and Finance, 100, 57-86, doi: 10.25095/mufad.1328760.
- Bochkay, K., Brown, S.V., Leone, A.J., Tucker, J.W. (2023). Textual analysis in accounting: What is next? Contemporary Accounting Research, 40(2), 765-805, doi: 10.1111/1911-3846.12825.
- Chamisa, E., Mangena, M., Pamburai, H.H., & Tauringana, V. (2018). Financial reporting in hyperinflationary economies and the value relevance accounting amounts: hard evidence from Zimbabwe. Review Accounting Studies, 23, 1241-1273, doi:10.1007/s11142.018.9460-4.
- Gökten, S., Gökten, P.O., Mollaoğulları, B. (2023). Inventories and inflation accounting application: an evaluation on BIST30 manufacturing enterprises. Journal of Business Research-Turk, 15(1), 718-731, doi: 10.20491/isarder.2023.1614.
- Hasanov, M. (2008). Effects of inflation uncertainty on output: the case of Turkey. Journal of Dogus University, 9(2), 191-206.
- IAASB (2015). International standard on auditing (ISA) 701 (NEW), communicating key audit matters in the independent auditor’s report. available at https://www.iaasb.org/publications/international-standard-auditing-isa-701-new-communicating-key-audit-matters-independent-auditor-s-3
- IAASB (2015). International standard on auditing (ISA) 706 (REVISED). emphasis on matter paragraphs and other matter paragraphs in the independent auditor’s report, available at https://www.iaasb.org/ publications/international-standard-auditing-isa-706-revised-emphasis-matter-paragraphs-and-other-matter
- IASB (2001). International accounting standard (IAS 29). financial reporting in hyperinflationary economies, available at https://www.ifrs.org/issued-standards/list-of-standards/ias-29-financial-reporting-in-hyperinflationary-economies/
- Keleş, D. (2015). Correction of the financial Statements within the scope of TAS 29: financial reporting standard in hyperinflationary economies and its effects on financial analysis results. Uşak University Journal of Social Sciences, 8(3), 31-52
- Kramarova, K. (2021). The global problem of inflation and need for inflation adjusted-financial reporting, paper presented at the 21st International Scientific Conference Globalization and its Socio-Economic Consequences 2021. October 13-14, 2021, Zilina, Slovak Republic, available at: https://www.shs-conferences.org/articles/shsconf/abs/2021/40/contents/contents.html; (accessed 20 July 2024).
- Loughran, T., McDonald, B. (2016). Textual analysis in accounting and finance: A survey. Journal of Accounting Research, 54(4), 1187-1230, doi: 10.1111/1475-679X.12123.
- Mihaela, D. (2014). IAS 29 Financial reporting in hyperinflationary economies – analysis and implications of accounting, tax and legal. Economic Sciences Series, 14(2), 483-488.
- Peker, A.A. (2023). Inflation accounting within the framework of financial reporting standards in hyperinflatıonary economies: Borsa Istanbul an application. Journal of Aksaray University Vocational School of Social Sciences, 1(1), 31-48.
- PwC (2022). Discloses PwC’s online magazine. hyperinflation in Turkey, PricewaterhouseCoopers, Switzerland, available at https://www.pwc.ch/en/insights/disclose/33/hyperinflation-in-turkey.html
- PwC (2024). Hyperinflationary economies as at December 2024, PricewaterhouseCoopers, Global, available at https://viewpoint.pwc.com/dt/gx/en/pwc/in_briefs/in_briefs_INT/in_briefs_INT/hyperinflationary-economies-as-at-december-2024.html#pwc-topic.dita_dce1bdf5-5233-4596-b17e-40c4fc3aa333
- Stajanova, P., Popovski, N., Petreska, L. (2022). Financial reporting in terms of inflation accounting. International Dialogue: East-West, 9(1), 129-137.
- Trajkovska, O.G., Koleva, B., Svrtinov, V.G. (2018). Financial reporting in hyperinflationary economies. Journal of Economics, 3(2), 50-57.
- Umut, E. (2024). IAS 29 Financial reporting standard in high inflation economies: a hypothetical study. Journal of Economics and Business Issues, 4(1), 86-112.
- Varol, N. (2022). Inflation accounting in terms of tax legislation and accounting standards in Turkey. The Journal of Accounting and Finance, 93, 19-30, doi:10.25095/mufad.979514.
Ayrıntılar
| Birincil Dil | İngilizce |
|---|---|
| Konular | İşletme |
| Bölüm | Makaleler |
| Yazarlar | |
| Yayımlanma Tarihi | 23 Haziran 2025 |
| Gönderilme Tarihi | 16 Kasım 2024 |
| Kabul Tarihi | 6 Mayıs 2025 |
| Yayımlandığı Sayı | Yıl 2025 Cilt: 10 Sayı: 1 |