ACCOUNTING AND AUDITING IN EMBEDDED FINANCE FIELD: CASE OF TÜRKIYE
Abstract: The integration of banking services into nonfinancial applications and services is called embedded finance. Former research show that even though not yet saturated, there are satisfactory pioneering applications of embedded finance in Turkish market, and consumers welcome embedded finance applications in Türkiye. However, there is lack of literature focusing on embedded finance in Türkiye, let aside accounting and auditing in embedded finance field. This study aims to fill this gap. Practitioner‑scholar approach is applied; where trade publications, industry reports, and expert analyses are used along with academic research. International Standards on Auditing (ISAs), International Financial Reporting Standards (IFRS), International Accounting Standards (IAS) and other relevant legislation are the complementary sources of the research. Findings are that literature is not homogeneous from several aspects, and regulations and guides are not exactly addressing the issues related to the embedded finance. Practical implications are the messages it conveys to the regulatory bodies. The paper is original in that it is one of the pioneering researches handling the topic. Therefore, it adds value to the newly accumulating field.
Keywords: accounting, auditing, embedded finance, legislation, fintech