Inner Control

To review and evaluate the activities of companies or commercial enterprises
It is an internal control mechanism. financial audit, compliance audit and operational audit are carried out. Protecting the assets of the business
Accuracy and reliability of accounting information, Business
Compliance of its activities with management policies, plans and laws,
whether resources are used economically and efficiently,
whether the specified goals and targets are achieved or not. Audit
physical examination, counting, verification, recording system backwards
monitoring, forward monitoring of the recording system, observation, recalculation,
such as reviewing documents, browsing, investigating, calculating and comparing
techniques are applied.
In activity control; the efficiency and effectiveness of an enterprise’s activities
the application of procedures and methods associated with these activities in order to evaluate
formats are examined. The activity results are compared with the efficiency standards and
It is investigated whether the business has achieved the predetermined goals and objectives.
and recommendations for increasing productivity. Capital and People
Solutions by measuring whether the resources are used successfully or not
shown. Planning, execution, reporting and
The processes of monitoring the results are followed.

LEGISLATION :
Early detection and management of risk
ARTICLE 378- (1) In companies whose shares are traded on the stock exchange, the board of directors,
The reasons that endanger the existence, development and continuity of the company are
diagnosis, implementation of the necessary measures and remedies and
to establish an expert committee, to operate the system and
is obliged to develop. In other companies, this committee is considered necessary by the auditor.
In case of notifying this to the board of directors in writing, it is immediately established and the first
gives its report at the end of a month following its establishment.
(2) The committee informs the board of directors of the reasons that endanger their continuation every two months.
early diagnosis, implementation of necessary measures and remedies for this, and
to establish an expert committee, to operate the system and
is obliged to develop. In other companies, this committee is considered necessary by the auditor.
In case of notifying this to the board of directors in writing, it is immediately established and the first
gives its report at the end of a month following its establishment.
(2) The Committee shall report its status in the report to be submitted to the board of directors every two months.
evaluates, points out the dangers, if any, shows remedies. Report to the auditor
sent.

Check
ARTICLE 397 – (1) Anonymous companies subject to audit pursuant to the fourth paragraph
financial statements of companies and group of companies by the auditor, Public
Supervision, published by the Accounting and Auditing Standards Authority
According to Turkey Auditing Standards compliant with international standards on auditing
is inspected. The financial statements included in the annual report of the board of directors
whether the information is consistent with the audited financial statements and the truth.
whether it reflects or not is within the scope of the audit.
(2) Those subject to audit, whose financial statements
the auditor’s opinion on the relevant financial
must clearly indicate in the title of the table. This provision is
It is also applied for the annual activity report. Although it is subject to inspection,
the unaudited financial statements and the annual activity report of the board of directors,
It has the unregulated effect.
(3) The financial statements of the company and the group and the annual activity of the board of directors.
the report has been changed after submission of the audit report, and the change
The financial statements and, if they are of a nature that may affect the audit reports,
the annual activity report of the board of directors is re-audited in accordance with the paragraph.
The re-inspection and its result are specifically disclosed in the report. Auditor
The opinion includes appropriate annexes reflecting the re-inspection.
(4) Companies subject to audit within the scope of Article 398 Ministers
It is determined by the board.

(5) Joint stock companies excluded from the fourth paragraph and Law No. 4572
cooperatives under the scope and their parent companies that are not subject to independent audit.
organizations are inspected according to the provisions of this paragraph. Procedure for the audit and
the principles and the qualifications of the auditors who will perform the audit in accordance with this paragraph,
ethical principles, duties and powers, election, dismissal
being taken or leaving; the content of the audit and audit reports; and
Issues regarding the submission of the report to the general assembly Customs and Trade
By the regulation prepared by the Ministry and to be issued by the Council of Ministers
is regulated. The provisions of the law regarding the responsibility of the auditor are explained in this paragraph.
It is also applied by analogy to the auditors who will audit accordingly.
(6) Although it is subject to audit within the scope of the fifth paragraph, the said audit
financial statements and annual activity report of the board of directors
It has the unregulated effect.

Subject and scope:
ARTICLE 398 – (1) Financial statements of the company and the community and management
audit of the annual activity report of the board; of inventory, accounting and
Turkey Control the extent of internal audit required by the standard, this section

reports submitted pursuant to Article 378 and 397th
the annual activity of the board of directors within the framework of the first paragraph of the article
is the control of the report. This audit, Turkey Accounting Standards, law
and whether the provisions of the articles of association regarding the financial statements are complied with.
It also includes the examination. Auditing, Public Oversight, Accounting and Auditing
In the context of the principles set by the Standards Authority, the
It is carried out in accordance with its requirements and ethics. Check,
Article 515 of the assets and financial status of the company and the community
in the sense of whether it is reflected in accordance with the principle of honest painting,
If not reflected, it is done in a manner that honestly states the reasons.
(2) Control; a) The company’s financial statements and the first paragraph of Article 397
and within the framework of the second paragraph of Article 402, the annual
the annual report,
b) Consolidated financial statements of the group and article 397
and the second paragraph of Article 402 within the framework of the annual
Compliance of the annual report with the information obtained by the auditor during the audit.
It is made to indicate whether it is inside or not.
(3) The auditor responsible for the audit of the financial statements of the group,
The financial statements of the companies included in the group’s consolidated statements, especially
the adjustments and offsets related to consolidation, in the sense of the first paragraph
examines; Unlike the consolidated company, as required by law or
audited in accordance with the provisions of this Section
anyway. This exception means that a company headquartered abroad
In the event that he / she has been subjected to an audit equivalent to the audit he prescribed,
valid.
(4) Auditor, the board of directors who threaten or may threaten the company
To diagnose risks in time and to manage risk
Has established the system and authorized committee foreseen in Article 378,
If there is such a system, a separate
It prepares a report and presents it to the board of directors together with the audit report. This
basis of the report Public Oversight, Accounting and Auditing Standards
It is determined by the institution.
Election, dismissal and termination of the contract
ARTICLE 399 – (1) The auditor, by the general assembly of the company; community auditor master
elected by the company’s general assembly. Every activity period and in any case, the auditor
It must be elected before the end of the activity period in which he will fulfill his duty. From the election
then, to which auditor, the board of directors does not delay
given that the trade is registered with the Registry and Turkey Trade Registry Gazette
announces on the website.
(2) The duty of auditing from the auditor only as foreseen in the fourth paragraph.
and it can be revoked if another auditor has been appointed.

(3) To audit the financial statements of the parent company included in consolidation
The auditor chosen is a group financial institution, unless another auditor is selected.
the auditor of the statements is also considered.
(4) Commercial court of first instance where the headquarters of the company is located;
a) Board of directors,
b) Ten percent of the capital, principal or issued in public companies
Upon the request of the shareholders, who make up five percent of the capital, the concerned parties and
By listening to the elected auditor, a justified statement about the person of the elected auditor.
cause necessitates, in particular, a suspicion that he is biased
may appoint another auditor, if one exists
(5) dismissal proceedings and appoint new auditors, the election of auditors Turkey
It opens within three weeks of its announcement in the Trade Registry Gazette. This is your scarcity
In order to file the case, he voted against the election of the auditor in the general assembly.
the voting was recorded in the minutes and the date of the general assembly meeting where the election was held.
has been the shareholder of the company for at least three months retroactively.
must be.
(6) If an auditor could not be elected until the fourth month of the operating period, the auditor,
of the board of directors, each board member or any shareholder
Upon his request, he is appointed by the court indicated in the fourth paragraph. The same provision,
rejection of the elected auditor or termination of the contract, assignment
Cancellation of the decision of the auditor or the auditor due to legal or other
unable to perform or perform his duty for any reason
It is also applied in cases of prevention. The court’s decision is final.
(7) In case the auditor is appointed by the court, precedent consideration
and depositing the fee to the court cashier for possible expenses
the required prepayment is determined by the court. Objection to these within three working days
can be. The court decision is final.
(8) The auditor can only issue the audit contract if there is a justified reason or to himself.
If a counter dismissal action has been filed, it can be terminated. To the content of the opinion letter
and the fact that the supervision is restricted by the company or
refraining from giving a letter of opinion cannot be deemed justified. The auditor’s
termination must be in writing and justified. The auditor acquired by the termination date
is obliged to present the results to the general assembly; these results go to Article 402.
It is made into a suitable report and submitted to the general assembly.
(9) If the auditor makes a notice of termination in accordance with the provisions of the sixth paragraph,
the board of directors immediately elects a temporary auditor and the termination notice is sent to the general assembly.
it submits the auditor it has chosen to the approval of the same board.
Those who can become auditors

ARTICLE 400 – (1) The auditor, for independent audit, dated 1/6/1989 and
3568 Certified Public Accountant and Certified Public Accountant
Certified public accountant or independent accountant financial
Public Oversight, Accounting and Auditing Standards

Persons authorized by the institution and / or their partners consisting of these persons
may be a capital company. In the presence of one of the following situations, sworn financial
advisor, independent accountant financial advisor and / or capital company and their
working alongside one of its partners and their partners, or in this sentence
the person or persons with whom the aforementioned persons work together, is an auditor in the relevant company.
can’t. Namely, one of those mentioned in the previous sentence; a) In the company to be audited
shareholder, b) Director or employee of the company to be audited, or auditor
has held this title within three years prior to his appointment, c) To be audited
a legal entity, a trading company or a commercial company affiliated with the company.
legal representative or representative of the enterprise, member of the board of directors, manager
or owns or owns more than twenty percent of them, or
a member of the board of directors or a manager of the company to be audited.
third-degree blood, including a descendant, spouse, or third-degree blood or
If it’s like a beech,
d) Percentage of the company that is in contact with the company to be audited or in such a company
works in a business with more than twenty shares, or will be an auditor
In addition to a real person with more than twenty percent share in the company,
e) Keeping the books of the company to be audited
or operating outside of auditing in the preparation of its financial statements; or
f) Keeping the books of the company to be audited, or
operating or contributing to the issuance of financial statements other than auditing
the real or legal person who cannot become an auditor according to clause (e)
or a legal representative, representative, employee, management of one of its partners
board member, shareholder, owner or himself / herself as a natural person, g) (a) to
An auditor who cannot be an auditor because he meets the requirements in subparagraph (f)
h) Professional auditors related to auditorship in the last five years.
more than thirty percent of all income from its activity
Participating in the company to be audited or with a share of more than twenty percent
obtained from the supervision and consultancy activity given to companies and
If he is expected to obtain it in the current year, he cannot be an auditor.
(2) The auditor who was elected as an auditor for the same company for a total of seven years within ten years,
Until the year has passed, he cannot be re-elected as an auditor. Public Oversight, Accounting and
The Auditing Standards Authority’s procedures and principles regarding the implementation of this paragraph
It is authorized to determine and shorten the periods specified in this paragraph.
(3) The auditor provides tax consultancy and tax audit to the company he / she audits.
can not provide consultancy or service, except through a subsidiary
can not.

(4) (Repealed: 26/6 / 2012-6335 / 19 art.)
The burden of presentation and the right to information
ARTICLE 401 – (1) The company’s board of directors, financial statements and management
Having prepared and approved the annual activity report of the Board, without delay,
gives to the inspector. Board of Directors, the company’s books, correspondence,

documents, assets, debts, safe, negotiable documents,
the necessary opportunities for the auditor to examine and audit the inventory.
provides.
(2) The auditor, from the board of directors, for a lawful and attentive audit
to provide all the necessary information to him and to be able to form a basis
asks to present the documents. Required for preparations for the year-end audit
the auditor in the second sentence of the first paragraph and the first sentence of this paragraph.
It has the prescribed powers before the issuance of the financial statements. Attentive
If necessary for an audit, the auditor
It can also use the powers stated in its sentences for offspring and parent companies.
(3) The management of the company that is obliged to issue the consolidated financial statements
the auditor who will audit the consolidated financial statements; community’s financial
financial statements of the individual company, the group annual report,
tables, annual activity reports of the boards of directors of companies, an audit
if it is done, to submit the audit reports of the parent company and subsidiary companies
has to. Foreseen in the first and second sentences of the first paragraph, the auditor
It can also use the powers in terms of parent and subsidiary companies.
Audit report
ARTICLE 402 – (1) The auditor is responsible for the type, scope, nature and
written clearly, comprehensibly, in simple language, and history of the results.
A report on the financial statements prepared in comparison with the year
arranges.
(2) In the case of a separate report, the board of directors, the company or
the examinations in the annual report on the situation of the community,
consistency and truthfulness with the financial statements by the auditor.
evaluated in terms of.
(3) When the auditor makes the evaluation, the company, if auditing, with the parent
It is based on the financial statements of the group. In the report, first of all, the company and
about the board’s assessment of the financial condition of the community
the opinion is disclosed. In this view, especially the financial statements of the company and the parent company
the survival of the company and the community, in the context of its control, and
The report of the company’s board of directors, as well as analysis on future development
and the annual report of the company to the extent possible by these documents.
his financial situation is examined.
(4) In the main part of the audit report; a) Bookkeeping order, financial
financial statements of statements and group financial statements, by law and the articles of association.
whether it complies with the provisions regarding reporting, b) Board of directors
Whether he has made the explanations requested by the auditor within the scope of the audit, and
whether it has submitted the documents is clearly stated.
(5) In addition, the financial statements and the underlying books; a) Predicted
The chart of accounts are kept properly, b) Turkey Accounting Standards
a picture of the company’s assets, financial and profitability

whether it reflects truthfully and honestly. (6)
Within the framework of the audit, in accordance with the fourth paragraph of Article 398, a
If the evaluation has been made, the result is shown in a separate report.
(7) The auditor signs his report and submits it to the board of directors.

Opinion articles
ARTICLE 403 – (1) The auditor explains the result of the audit in his opinion letter. This
The letter of the Public Oversight, Accounting and Auditing Standards Authority
subject, type, nature and scope of the audit within the framework of the principles determined
it also includes the auditor’s evaluations. The auditor gave a favorable opinion.
At the discretion of the text, primarily Turkey and Article 398 Auditing Standards
The audit made in accordance with Accounting Standards and other Turkey
There was no contradiction in terms of requirements; audit
According to the information obtained during the
that the statements are accurate, regarding their assets, financial position and profitability.
that the picture is found to be realistic and the paintings show this honestly.
indicates that it reflects.
(2) In the letter of opinion, the matters related to the financial statements of the board of directors
that there is no reason to require the responsibility in terms of maintenance, if any
it is pointed out. Opinion Public Oversight, Accounting and Auditing Standards
It is written as determined by the institution and in a language that everyone can understand.
(3) The auditor may limit the positive opinion letter if he / she has reservations, or
give negative opinion. Restricted positive opinion on financial statements
that the company contains inconsistencies that can be corrected by the authorized boards, and this
The effects of the discrepancies on the result explained in the tables
It is given when there is no The subject and scope of the limitation and how the correction
it is clearly indicated in the limited positive opinion letter that can be done.
(4) In the company books, the audit in accordance with the provisions of this Chapter.
uncertainties that do not allow to be made and concluded.
Significant restrictions on the existence of or matters to be audited by the company.
if the auditor does not have evidence to prove them,
may avoid giving an opinion by explaining its reasons. Avoidance is negative
produces the consequences of the view. Public Oversight, Accounting and Auditing
The Standards Authority, the reason and procedure of the avoidance and the reason for it.
regulates its principles with a notification.
(5) In cases where a negative opinion is written, the board of directors will
calls the general assembly for a meeting within four working days from the date of delivery and
the general assembly elects a new board of directors. Otherwise in the articles of association
If not foreseen, former members of the board of directors may be re-elected. New management
within six months, in accordance with the law, articles of association and standards
prepares the tables and presents them to the general assembly together with the audit report.
In cases where a limited positive opinion is given, the general assembly shall take necessary measures and
it also decides on the corrections.

Responsibility of auditors arising from confidentiality
ARTICLE 404 – (1) Auditor and special auditor, auditing with their assistants
helping to perform the audit in an honest and impartial manner.
is obliged to do and keep secrets. What they learned during their activities,
They cannot use business and business secrets related to auditing without permission.
Those who intentionally or negligently violate their obligations to the company and
otherwise, they are liable to affiliated companies. If the harming person is more than one
responsibility is joint.

(2) Who has negligence in fulfilling the obligation stipulated in the first paragraph,
one hundred thousand Turkish people for each audit, due to the damage they have caused.
In joint stock companies whose shares are traded on the stock exchange, three hundred thousand Turkish lira
Compensation may be awarded up to lira. Causing damage with their negligence
This restriction on persons has participated in the audit by more than one person or more than one
applied in the event that a very responsible action has been taken
as well as if some of the participants acted deliberately.
valid.
(3) A capital authorized by the auditor to conduct independent audit.
in the case of a company, my obligation to keep confidentiality is that this institution’s board of directors and
It also includes its members and employees.
(4) The indemnification obligation arising from these provisions can neither be canceled nor removed by contract.
can be narrowed.
(5) Requests regarding the responsibility of the auditor arising from this article are reported in the report.
expires in five years starting from the date. However, the act constitutes a crime and
The case is longer than the Turkish Criminal Code.
If there is, then the statute of limitations will be applied to the compensation case.
(6) The provisions of the criminal legislation regarding the reporting of crimes are reserved.
Differences of opinion between the company and the auditor
ARTICLE 405 – (1) End of the year of the company and the group between the company and the auditor
Accounts, financial statements and the activity report of the board of directors,
the interpretation of the relevant law, administrative act or the provisions of the articles of association, or
about the differences of opinion arising from the implementation of the board of directors.
or at the request of the auditor, in the place where the company headquarters is located.
the commercial court decides on the file. The decision is final.
(2) The debtor of the legal expenses is the company.
Special auditor audit for community relations
ARTICLE 406 – (1) a) The auditor works with the controlling company or group companies of the company.
has written a limited positive opinion or avoidance letter regarding their relationship, or
b) The board of directors of the company by the community, certain legal actions or
loss due to the measures implemented and thus
The request of any shareholder, if he / she has declared that no settlement has been made.

commercial court of first instance where the headquarters of the company is located
with the parent company or one of the subsidiaries of the parent company.
A special auditor may be appointed to examine their relationship.
Authority of the Public Oversight, Accounting and Auditing Standards Authority
ARTICLE 88 – (1) Real and legal persons subject to the provisions of Articles 64 to 88
Public Oversight when drafting individual and consolidated financial statements,
Accounting and Auditing Standards issued by the Authority, Turkey
Accounting Standards, accounting principles in the conceptual framework and
comply with and apply comments that are an integral part of them
has to. Articles 514 to 528 and other relevant provisions of this Law
reserved.

(2) These regulations, to ensure unity in practice and to the financial statements
In order to gain validity in international markets,
only Public Oversight, Accounting and
It is determined and published by the Auditing Standards Authority.
(3) Public Oversight, Accounting and Auditing Standards Authority, various
For business sizes, industries, and nonprofits, private and
It is authorized to set exceptional standards and make different regulations. This
standards and regulations, shall be deemed integral part of Turkey Accounting Standards.
(4) Established by laws to regulate and supervise certain areas
Located organizations and committees, to comply with the Turkey Accounting Standards
in detail regarding standards applicable to their area, provided that
They can make limited arrangements regarding.
(5) In case of absence of provisions in Turkey Accounting Standards related
regarding the detail specified in the fourth paragraph, taking into account the field in which they are
regulation, if there is no provision in the relevant regulation,
Generally accepted accounting principles are applied in practice.

Companies and organizations subject to independent audit and
Regarding the limits of
In the Newspaper, the
It has been determined by the Decree of the Council of Ministers on its determination.
1) Entities Declared as Subject to Independent Audit List
The companies listed in the annex are independent of any criteria.
subject to control.
2) General criteria for being subject to independent audit
Except for companies that are listed and stated to be subject to independent audit
calculate the threshold values ​​of at least two of the remaining and the following three criteria
All companies exceeding the period are subject to independent audit.

Total assets are 35 million Turkish Liras. (Previous Amount: 40 million TL and
above)
Annual net sales revenue is 70 million Turkish Liras. (Previous Amount: 80 million
TL and above)
The number of employees is 175 (annual average). (It was 200 and above before)
3) Capital market instruments are listed on an exchange or other organized
not traded in the markets but deemed open to the public under the CMB
companies
Capital market instruments in an exchange or other organized markets
not traded but deemed public under the CMB and the following three
exceeding the threshold values ​​of at least two of the criteria in two consecutive accounting periods
companies are subject to independent audit.
Total assets are 15 million Turkish Liras.
Annual net sales revenue is 20 million Turkish Liras.
The number of employees is 50 people.
4) Companies listed in the attached list (II)
Attached to the UPS Decision and specified in the list (II) below.
companies need to consecutively double the threshold values ​​of at least two of the three criteria below.
Those exceeding the accounting period are subject to independent audit.
Total assets are 30 million Turkish Liras.
Annual net sales revenue is 40 million Turkish Liras.
The number of employees is 125 people.

LIST NUMBER I
1) In accordance with the Law No. 6362, the regulation and regulation of the Capital Markets Board.
from companies subject to control;
a) Investment institutions,
b) Collective investment institutions,
c) Portfolio management companies,
ç) Mortgage finance institutions,
d) Asset leasing companies,
e) Central clearing institutions,
f) Central depository institutions,
g) Data storage organizations,
ğ) Rating agencies,
h) Valuation institutions,
ı) Capital market instruments in a stock exchange or other organized markets
by the Capital Markets Board for the purpose of being traded or traded.
with a prospectus or issue document with an approved validity period
joint stock companies,
i) Although not traded in a stock exchange or other organized markets
Issuer of capital market instruments, excluding shares, without public offering (issued

to the end of the accounting period in which the capital market instruments they have redeemed
or the validity period approved by the Capital Markets Board for this purpose.
joint stock companies with an export certificate.
1) Banking pursuant to the Banking Law No. 5411 of 19/10/2005
Subject to the regulation and supervision of the Regulation and Supervision Agency
from companies;
a) Banks,
b) Rating agencies,
c) Financial holding companies,
ç) Financial leasing companies,
d) Factoring companies,
e) Financing companies,
f) Asset management companies,
g) As defined in the Law No. 5411 on financial holding companies
companies that have qualified shares in their form.
2) With the Insurance Law dated 3/6/2007 and numbered 5684 and dated 28/3/2001 and
Within the scope of the Private Pension Savings and Investment System Law No. 4632
insurance, reinsurance and pension companies operating.
3) Permitted to operate in Borsa Istanbul markets; authorized
establishments, precious metals intermediary institutions, precious metal production or
companies engaged in trade.
4) Agricultural Products Licensed Warehousing Law No.5300 dated 10/2/2005
and the licensed warehouse enterprises established by the General Directorate of Public Works dated 11/8/1982 and numbered 2699
Public stores established in accordance with the Law on Stores.
5) Media that own at least one of the following rights or licenses
provider organizations:
a) The right to broadcast national television from the terrestrial environment.
b) Satellite television broadcasting license.
c) Cable television broadcasting license for more than one.

LIST NUMBER II
1) At least 25% of its capital to professional organizations that qualify as public institutions,
unions, associations, foundations, cooperatives and their higher organizations
companies that are directly or indirectly owned.
2) Companies that publish daily newspapers throughout the country.
3) Except for call center companies, dated 15/1/2004 and numbered 5070
Electronic Signature Law, Electronic Signature No. 5809 dated 5/11/2008
Communication Law, Postal Services Law No. 6475 of 9/5/2013 and
Within the scope of Article 1525 of Law No. 6102, Information Technologies and
Companies subject to the regulation and supervision of the Communication Authority.
4) License, certificate or authorization certificate from the Energy Market Regulatory Authority
companies that acquire and operate subject to this Agency’s regulations.
5) Except for those included in list (I);

a) Those who are inactive or whose activities are temporarily suspended or canceled
(the necessary main contract amendments and similar procedures have not yet been completed.
Excluding subsidiaries and companies), Saving
Deposits and Insurance Fund (TMSF) affiliates and repealed banks numbered 4389
Law and Law No. 5411
Companies whose control and management has been taken over by the SDIF.
b) Law on State Economic Enterprises No. 233 and dated 8/6/1984
State economic enterprises operating within the scope of the Statutory Decree
and its subsidiaries and companies whose capital is at least 50% owned by municipalities.
Notification
From the Capital Markets Board:
Communiqué on Independent Auditing Standards in the Capital Market
(Series: X, No: 22)
Goal
ARTICLE 1 – (1) The purpose of this Communiqué is to provide independent auditing in capital markets.
to its activity,
independent audit to be authorized by the Board to carry out this activity
Standards, principles, procedures and principles regarding institutions and independent auditors
to determine.
Scope
ARTICLE 2 – (1) This Communiqué, financial statements of the enterprises defined in Article 4
independent audit, including the examination of the financial statements and other financial information.
is applied.
(2) “International Independent Auditing” corresponding to “Parts” of this Communiqué
Standards “and” Analysis of Interim Financial Statements Standard ”
The related table is given in Annex-1.
Rest
ARTICLE 3 – (1) This Communiqué is based on the provisions of the Capital Market Law No. 2499, 16, 22 / d.
and 22 / e.

Enterprises subject to independent audit and review (limited independent audit)
ARTICLE 5 – (Amended by the Communiqué Serial: X, No: 28) dated 13/1/2011 and
The fourth paragraph of Article 397 of the Turkish Commercial Code No. 6102
enterprises and investment funds determined by the Council of Ministers Decree in accordance with
housing and wealth financing funds annual financial reports to independent audit.
they must subject.
(2) Financial reporting of the following companies published by the Board
Without prejudice to the special provisions in the regulations regarding the standards,
reviewing monthly interim financial statements (limited independent audit)

covered. a) Investment institutions, b) Collective investment excluding mutual funds
institutions, c) Mortgage finance institutions, ç) Capital market instruments
anonymous trading on the stock exchange and / or other organized marketplaces
partnerships.
(3) Capital market instruments of the partnerships specified in subparagraph (ç) above
In the public offering or the public offering of its existing shares by the shareholders,
In the regulations of the Board regarding the registration of capital market instruments
The foreseen interim financial statements are subject to limited independent audit.
(4) Borsa İstanbul A.Ş. Companies with Developing Shares within the scope of their regulations
Market List with the businesses and their shares on the Free Trading Platform
Communiqué on Principles Regarding Public Joint Stock Companies To Be Traded
six of the enterprises whose shares are traded on the Free Trade Platform
reviewing monthly interim financial statements (limited independent audit)
not covered.
Private companies subject to independent audit
ARTICLE 6 – (1) Private independent audit, public offering of capital market instruments
during the application to the Board or merger, division, transfer and liquidation
for these purposes at any date by the enterprises in the
prepared financial statements in the “Preliminary Provisions” Part of this Communiqué.
The definition of “independent audit” in the article titled “Definitions”
means being subjected to independent audit in accordance with the required principles.
2) Circumstances requiring special independent audit, the Board’s capital market
regulations regarding the registration of vehicles and other relevant regulations
determined within the framework.
(3) In a special independent audit, financial
at the end of the month when the independent audit of the tables started or after
It must be prepared as of a date. Private independent audit
the work started on the date of the signing of the independent audit contract.
acceptable.
(4) In the special independent audit work and reporting, 29-31 of this Communiqué
The provisions in the pearl sections are followed.
(5) To the years before the financial statement period in which the special independent audited
in the independent audit of the related financial statements, due to the time factor
If there are independent audit techniques that are not applicable, this Communiqué
“The Concept of Materiality in Independent Audit” is included in the 11th Part.
As a result of the evaluation to be made by considering the provisions
independent audit opinion is formed and it is stated in Sections 29-31 of this Communiqué.
are reported within the framework of the regulated provisions.

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