Evaluation and Audit of Financial Statements according to SME TFRS

Differences of accounting standards which apply in countries, make difficult comparing of financial information, pose an obstacle in the process of fund-raising, cause some intricacies related purchase-sale and integration of business. The Elimination of these problems and In order to harmonize the accounting standards applicable in the country, International Financial Reporting Standards (IFRS) are published by International Accounting Standards Board (IASB) and concordantly Turkish Financial Reporting Standards (TFRS) by Turkish Accounting Standards Board (TASB) in Turkey. By the reason of being complex and unclear of IFRS/TFRS, SME IFRS are published for Small and Medium Enterprises (SME) which have difficulty in evaluation of financial statements. Concordantly SME TFRS are published in Turkey. Aim of our study is to research which accounting standards SME will apply, when they evaluate their financial statements and the financial statements that prepared will be subject to audit or not. Also, we currently try to explain practicability of SME TFRS perception of accounting occupation members and SME TFRS’s effects on audit by way of the questionnaire study. As the result of this study, it located that accounting occupation members are undecided about their perception of SME TFRS. Also we got results that occupation members impress SME audit.