Independent Audit
Independent Audit Services in Turkey: Ensuring Transparency and Reliability
Independent audit services play a vital role in ensuring financial transparency and accountability in Turkey. This process involves the thorough inspection of a company’s financial statements to verify compliance with international accounting standards, providing stakeholders with accurate and reliable information.
At OzbekCPA, we specialize in managing the independent audit process to ensure that your company’s financial reports are clear, reliable, and compliant with legal requirements. Our team of experts, authorized by the Public Oversight, Accounting, and Auditing Standards Authority (KGK), offers customized audit solutions based on your industry and specific business needs.
What is Independent Audit and Who is Subject to It?
Independent audit refers to the examination of a company’s financial statements by certified auditors to ensure compliance with established standards. Conducted in accordance with the Turkish Commercial Code (TCC) and the Independent Audit Regulation, this audit guarantees that companies operate with financial transparency. The goal is to provide accurate, reliable financial information to investors, regulators, and stakeholders.
In Turkey, independent audits are mandatory for certain companies, and only authorized firms approved by the KGK are qualified to conduct them. You can find the list of authorized audit firms through the following link: KGK Authorized Firms.
Who is Subject to Independent Audit in Turkey?
Companies are required to undergo independent audits if they meet at least two of the following conditions:
- Total Assets: 75 million TL or more
- Annual Net Sales Revenue: 150 million TL or more
- Number of Employees: 150 or more
In addition to these financial criteria, certain companies in specific sectors must also undergo an independent audit, including:
- Publicly traded companies
- Financial institutions (banks, insurance companies, factoring companies)
- Energy sector companies
- Companies of public interest
By partnering with OzbekCPA, your company will benefit from professional audit services that ensure full compliance with Turkish regulations, instilling confidence in your financial reporting and contributing to the overall credibility of your business.
Let us guide you through the audit process and help you meet all legal requirements while enhancing your financial transparency.
