Summary
Excerpt
Table Of Contents
- Cover
- Title
- Copyright
- About the editors
- About the book
- This eBook can be cited
- Table of Contents
- Foreword
- International Internal Audit Standards Evolution to Global: How Is the IPPF Changing? (Zehra Fırat)
- Integrating Agricultural Activities within Circular Economy: Analyzing Vermicompost Production in the Scope of International Accounting Standards (Betül Açıkgöz)
- Investigation of the Compliance of Accounting Education Given in Universities in Turkey with IES-2 Within the Scope of International Accounting Education Standards: The Example of Universities in the Aegean Region (Feden Koç)
- Valuation Methods in Accounting Standards and Their Role in Application (Abdulrezzak İkvan)
- Sustainability in Postgraduate Accounting Education: A Comparison of Universities of the United Kingdom and Türkiye (Selin Coşkun)
- Sustainability Reporting: World and Türkiye Perspectives (Ahmet Alataş)
- Tracing the Roots of Sustainability in Accounting Practices: A Brief Historical Overview (Bilge Katanalp)
- The Modern Corporate Responsibility Triad: Corporate Social Responsibility, Sustainability Reporting and Integrated Reporting (Erhan Polat)
- Investigation of Sustainability Scores of Companies in BIST and MSCI Index Between 2019–2024 (Aynur Akpınar & Nazan Güngör Karyağdı)
- Challenges of Sustainability Reporting Assurance (Serhat Şamil)
- The Role of Corporate Governance in the Impact of Corporate Sustainability on Market Value (Nihal Öztop & Meryem Uslu)
- The Impact of Exports on Financial Performance: A Research in the BIST Manufacturing Sector (Filiz Özşahin Koç, Seren Aydıngülü Sakalsız & Ali Deran)
- Analyzing the Integrated Annual Report Performance of State-Owned Deposit Banks Operating in Turkiye: Example of 2023 CRITIC-MAIRCA Model (İbrahim Yavuz)
- An Overview of Financial Statement Analysis with Data Visualization (Kürşad Çavuşoğlu)
- An Alternative for Traditional Budgeting Methods: Beyond Budgeting (Ali Aykut Peker)
- A Method Used in Detecting Accounting Fraud: Whistleblowing (İsa Kılıç)
- From Virtual Economy to Virtual Accounting: The Changing Face of the Accounting Industry (Işık Altunal)
- Corporate Social Responsibility and Its Developments in Türkiye: Regulations and Reporting (İlknur Eskin & Mehmet Maşuk Fidan)
- Risks and Opportunities Related to Climate Change: The Case of Airline Companies (Fevziye Kalıpçı Çağıran)
- Evaluation of the Use of Artificial Intelligence in the Accounting Sector (Gülşah Kazak & Namık Kemal Erdemir)
- An Analysis on Capital Disclosures: According to Turkish Financial Reporting Standards (Mehpare Karahan Gökmen, A. Atilla Perek & Elif Ensari Alpay)
- Effects of Digital Transformation on Cost and Management Accounting (Seher Meral Uluç)
- Digital Transformation in Accounting and ICT Competencies of Accounting Professionals (Gülhan Suadiye)
- Audit, Audit Committee and Independent Audit Relationship (Mehmet Şirin Yakut)
- A Systematic Analysis of the Factors Affecting the Independent Audit Quality (Musa Özçelik)
- The Role of the Audit Committee in Carbon Emission Disclosures: A Study on BIST-100 (Rıdvan Sezgin)
- How Did Covid-19 Affect Accounting Professionals? Evidence from Türkiye (Yusuf Akpınar, Nurettin Koca, Ahmet Kaya, Zeynep Hatunoğlu & Salih Yeşil)
- Cost of Living with Renewable Energy (Nurcan Kostak & Hüseyin Can Ayar)
- The Financial Reporting Framework and Intellectual Capital (Abdüssamed Koç)
Niyazi Kurnaz / Ali Kestane (eds.)
Current Issues in Accounting
Berlin - Bruxelles - Chennai - Lausanne - New York - Oxford
Library of Congress Cataloging-in-Publication
A CIP catalog record for this book has been applied for at the Library of Congress.
Bibliographic information published by the Deutsche Nationalbibliothek
The Deutsche Nationalbibliothek lists this publication in the Deutsche Nationalbibliografie; detailed bibliographic data is available on the Internet at http://dnb.d-nb.de.
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ISBN 978-3-631-92580-5 (Print)
E-ISBN 978-3-631-93528-6 (E-PDF)
E-ISBN 978-3-631-93529-3 (E-PUB)
DOI 10.3726/b22748
© 2024 Peter Lang Group AG, Lausanne
Published by Peter Lang GmbH, Berlin, Germany
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About the editors
Niyazi Kurnaz works at Kütahya Dumlupınar University as a Professor. He currently teaches Financial Statements Analysis, Accounting and Audit.
Ali Kestane works at Kilis 7 Aralık University as an Associate Professor. He currently teaches Financial Statements Analysis, Accounting and Audit.
About the book
This book is a collection of empirical and theoretical research papers regarding current topics of accounting in eduction. Written by academics from several different universities the studies covers a wide range of international audit standards, the role of compliance in educating accounting, methods and reporting as well as the role of corporate governance. The book gives an overwiew for all educators, researchers or intersted students in Türkiye.
This eBook can be cited
This edition of the eBook can be cited. To enable this we have marked the start and end of a page. In cases where a word straddles a page break, the marker is placed inside the word at exactly the same position as in the physical book. This means that occasionally a word might be bifurcated by this marker.
Foreword
Dear Reader,
Researchers from various universities and institutions provided support for the book of Current Issues in Accounting. The studies in this book consist of accounting thory and empirical studies have been specifically made for Türkiye and generally made in global scale.
All publishing rights of the published book chapters belong to the publisher, and the content responsibility of the published articles belong to the author. The opinions in the book chapters are the personal opinions of the authors; it is not an official opinion of any institution or organization.
I express my gratitude to the authors of the book chapters that contributed to the book “Current Issues in Accounting”.
Best regards,
Prof. Dr. Niyazi KURNAZ
Kütahya Dumlupınar University
Zehra Fırat1
International Internal Audit Standards Evolution to Global: How Is the IPPF Changing?
1. Introduction
In this era of rapid change, complex challenges, and hard-to-identify risks, the Institute of Internal Auditors (IIA) is committed to transforming the internal audit profession to adapt. The International Internal Auditing Standards Board updated the mandatory guidance of the International Professional Practices Framework and published the Global Internal Auditing Standards. It will replace the 2017 IPPF (International Standards for the Professional Practice of Internal Auditing), as of January 9, 2025 after a 12-month transition period.
While the core principles of internal audit remain unchanged, the increasing complexity of the risks organizations face and the rapid emergence of new challenges necessitate updating the existing internal audit guidance. Not only AI (Internal Audit) influenced by The New Standards, but also the whole organization. All organizations should prepare for this change and conduct compliance studies for the new Standards by 2025. This means the Board and each line should work together to capture the opportunities of the new standards. The new standards, which can be found on the IIA’s global website, include new subjects like; board involvement in IA, IA mandate-vision- strategic plan, holistic risk approach and coverage, planning-tracking-measuring performance. Principles and Requirements included in new standards emphasis on public interest and the impact of internal auditing on societal well-being. There are also new Topical Requirements and Guidance that help IA functions focus on key risk area such as Cybersecurity, Information Technology Governance, Privacy Risk Management, Sustainability and ESG (Environmental, Social & Governance), and Third-party Management. With these evolving updates, auditing professionals and business managers need to understand and adopt this very comprehensive new approach. The aim of this study is to make the structural, terminological and content change within the internal audit framework clearly understandable for audit professionals and managers. In addition, it is to raise awareness and provide guidance about The New Internal Audit Standards.
2. Historical Background of Internal Audit Standards
One of the most effective tools for creating and maintaining an effective and efficient management and governance structure in today’s business environment is internal audit function. The core mission of internal audit is to enhance and protect organizational value by providing risk-based and objective assurance, advice and insight to stakeholders. In general, internal auditors examine the processes, activities and objectives of the institution and guide the senior management units to make sound decisions on issues they find important. How to effectively carry out internal audit activities that are important for corporate continuity is described in the Internal Audit Standards. The Standards published by The IIA are the primary mechanism by which an organization’s internal auditors deliver essential services consistently and accurately in a timely and cost-effective manner (IIA, 2024a). In summary the standards; provide a framework for going through with a wide range of value-added internal audits, define the fundamental principles that represent the practice of internal auditing, provide the basis for evaluating internal audit performance and promote improved organizational processes and operations.
Since 1978, internal audit executives have committed the standards for the professional practice of internal auditing to reach the high quality and ethical operations. The basic definition of internal auditing added to IPPF in 20210, Code of Ethics as well as mandatory and recommended guidance. The Mission and The Core Principles of AI were updated in 2017. And the final IPPF which is only globally recognized set of internal audit standards, helps internal auditors navigate complex risk management, governance, and control considerations (Tone at the Top | February 2024). With this perspective, in 2023 Global Internal Audit Standards evolved to support the continued progress of the profession and help organizations management today’s unstable risky landscape. The new standards significantly change some sites of the 2017 Standards and framework. The IIA outlines a roadmap to improve internal audit practices globally in line with these changes and increase their strategic value to organizations. The IIA has charted a course for internal audit functions worldwide to elevate their practices and enhance their strategic value to organizations. The new Standards, are officially valid for practitioners in January 2025. Until this time all internal audit stakeholders need to prepare themselves.
3. Comparison of IPPF (2017) and Global Internal Audit Standards
This study presents a comparative approach of the 2017 IPPF and new standards in terms of structure, glossary and content.
3.1. Structural Comparison
2017 IPPF was including two parts: Mandatory Guidance and Recommended Guidance. Mandatory Guide; consisted of 4 sections: Core Principles, Definition, Code of Ethics and Standards. The Recommended Guide consisted of two parts: Implementation and Supplement Guidance. The attribute and performance standards categories present in the 2017 IPPF no longer exist as separate entities in the 2024 Standards. The new framework offers its users a structure that is easier to understand and use by presenting requirements and applications in a holistic manner, as well as theoretical content. The 2024 Global Internal Audit Standards includes, Topical Requirements, and Global Guidance and introduces a new comprehensive structure that consists of five domains: Purpose, Ethics and Professionalism, Governing, Managing and Performing Internal Audit Services. And includes 15 guiding principles that are supported by 52 standards containing requirements, considerations for implementation, and examples of evidence of conformance (IIA, 2024c). Figure 1 shows the structures of each framework as explained above.
Details
- Pages
- 362
- ISBN (PDF)
- 9783631935286
- ISBN (ePUB)
- 9783631935293
- DOI
- 10.3726/b22748
- Language
- English
- Publication date
- 2025 (March)
- Keywords
- Business Economics Panel Data Analysis Public Finance Time Series Analysis
- Published
- Berlin, Bruxelles, Chennai, Lausanne, New York, Oxford, 2024. 362 pp.
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