Misunderstandings in the Revenue Cycle During the Independent Audit Process and Improvement Strategies

Günay Deniz Dursun () and Sinan Aslan ()
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Günay Deniz Dursun: İstanbul Beykent Üniversitesi, İktisadi İdari Bilimler Fakültesi, İşletme Bölümü, İstanbul, Türkiye
Sinan Aslan: Marmara Üniversitesi, İşletme Fakültesi, İşletme Bölümü, İstanbul, Türkiye

Muhasebe Enstitusu Dergisi - Journal of Accounting Institute, 2024, vol. 0, issue 71, 13-24

Abstract: In an independent audit process, errors occurring in revenue cycle audits affect audit quality and the decisions of financial information users. The annual review reports published by the Public Oversight, Accounting and Auditing Standards Authority for the years 2016-2022 were examined within the scope of this study, and the accounting findings identified by the authority were addressed as part of the study, focusing on inventory, revenue, trade receivables and payables, and the revenue cycle. The similarity of the findings identified in all published reports and the ratios on a file-by-file basis underscores the significance of research in the field of revenue cycle audits. With this significance, the purpose of this prepared article is to comprehend the errors in the revenue cycle audit process and establish strategies for improvement, aiming to enhance the financial performance of businesses and facilitate accurate decision-making for financial information users.

Keywords: Revenue Cycle; Accounting Errors; Independent Audit JEL Classification : M42; M40; M48 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ist:imeder:v:0:y:2024:i:71:p:13-24

DOI: 10.26650/MED.1474025

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