Accurate and reliable information is needed in order to protect the rights and interests of shareholders and stakeholders in businesses. The assurance of accessing accurate and reliable information can be provided by independent audit opinion. In our country, external audit, which started to be implemented in public companies with the CMB regulations, has become widespread with the regulations of the KGK and BRSA and the new Turkish Commercial Code that has been enacted.
Independent audit services, which have become a permanent part of the corporate governance framework of our enterprises with the legal regulations made, also enable our enterprises to increase the quality and efficiency of the accounting and financial reporting systems of our enterprises at international standards.
Business partners, those who want to be partners in the business, credit institutions, managers, regulatory authorities, public institutions and other information and decision makers benefit from the independent audit reports.
Our services related to the audit of the financial statements with International Financial Reporting Standards of a company’s financial statements and notes (IFRS) compliant with Turkey Financial Reporting Standards (IFRS) or the standards that regulators have issued comprising administering opinions about whether it is appropriate.
Our audit process, which is carried out to ensure that the independent auditor expresses an opinion on whether an enterprise displays its financial status and activity results in a fair way, consists of the following steps that are meticulously studied:
In the planning step, the business and financial situation analysis that is being carried out is to help our customers determine the business and financial reporting requirements of our customers. Based on the results obtained, the risks that may cause material and false statements are defined in the annual report, and the audit strategy and important accounting issues are determined. Accordingly, audit plans are created.
In the Control Evaluation step, the customer’s internal audit system is analyzed and information about the accounting and reporting activities is obtained. In this step, the key processes determined during the planning and the design and applications of the controls selected in these processes are evaluated. At the same time, the operational efficiency of the selected controls is tested and accordingly, the control risk and finding risk are evaluated.
Detailed Tests, the financial statement items of the audited company and all the facts that may affect these items; It is the step where it is audited by inspection techniques such as physical examination, information gathering and examination, recalculation, verification, and analytical examination.
The Completion and Reporting process is the step in which the financial statements and footnotes are examined in general as a result of the evaluation of the evidence obtained for the independent audit opinion and the opinion of the independent auditor is formed. The main purpose of the independent audit of the financial statements is to enable the independent auditor to express an opinion on whether the financial statements represent the financial situation and activity results of an enterprise in line with the financial reporting standards, in all material respects, in a truthful and accurate manner. The opinion of the independent auditor increases the reliability of the financial statements. However, this opinion should not be interpreted as providing information about the future situation of the enterprise and that the management of the enterprise manages its activities effectively and efficiently.