WHAT WE DO
Scope of our services
INDEPENDENT AUDIT
Statutory audit
Audit of the annual financial statements of companies that exceed the statutory thresholds under Article 397 of the Turkish Commercial Code.
Voluntary audit
Audit of financial statements commissioned by companies outside the statutory scope, for their shareholders, lenders or investors.
Audit of consolidated financial statements
Audit of group consolidated financial statements prepared under TFRS 10.
ASSURANCE SERVICES
Review of interim financial information
Limited review of interim financial information under BDS 2410 (ISRE 2410).
Special purpose audits
Audits of financial statements prepared under a special purpose framework, or of a single financial statement or specific accounts and items (BDS 800, BDS 805).
Other assurance engagements
Assurance engagements on subject matters other than historical financial information (GDS 3000) and assurance reports on pro forma financial information (GDS 3420).
Turnover audit
Verification of sales revenue on which turnover-based rents and dealer fees are calculated.
OTHER REVIEW SERVICES
Agreed-upon procedures
Performing procedures agreed with the parties on specific financial information and reporting the findings (İHS 4400).
Compliance and operational audit
Assessing compliance with contractual, regulatory or internal policy requirements and how processes operate.
Fraud investigations
Examining suspicious transactions, records and control weaknesses through document and data analysis.
Internal audit
Performing the internal audit function on an outsourced basis or supporting an existing internal audit team.
HOW WE WORK
The audit process
WHO IS SUBJECT TO AUDIT
Which companies are subject to statutory audit?
Companies listed in Annex I (banks, insurance companies and similar) are subject to audit regardless of size. Other companies become subject to audit when they exceed at least two of the three criteria below in two consecutive financial years.
| TOTAL ASSETS | NET SALES REVENUE | NUMBER OF EMPLOYEES | |
|---|---|---|---|
| Companies deemed public (not listed on the stock exchange) | TRY 30 million | TRY 40 million | 50 |
| Companies on the Annex II list | TRY 120 million | TRY 150 million | 100 |
| Other companies | TRY 500 million | TRY 1 billion | 150 |
Companies that fall below two of the criteria in two consecutive financial years, or below two of the criteria by at least 20% in a single year, leave the audit scope from the following financial year.
Source: Presidential Decree No. 6434, as amended by Decree No. 11066, Official Gazette 17 March 2026, No. 33199. Applies to financial years beginning on or after 1 January 2026. For general information only.
FAQ
Frequently asked questions
When must the auditor be appointed?
Under Article 399 of the Turkish Commercial Code, the auditor is elected by the general assembly for each financial year, before the end of the period to be audited. After the election, the appointment is registered with the trade registry and announced in the Turkish Trade Registry Gazette.
What documents are requested during the audit?
Typically the trial balance and statutory books, bank and account reconciliations, significant contracts, fixed asset registers, general assembly and board resolutions, and the prior year’s audit report.
What opinions can be issued?
Under ISA 700 and ISA 705 (BDS 700 and 705), the auditor expresses an unmodified, qualified or adverse opinion, or disclaims an opinion. The type of opinion depends on the evidence obtained and the materiality of the misstatements identified.
How are opening balances handled in a first-year audit?
Under ISA 510 (BDS 510), the auditor obtains sufficient evidence that opening balances do not contain misstatements that materially affect the current period financial statements. If the prior period was audited by another auditor, that auditor’s working papers may also be used.
How long does an audit take?
It depends on the size of the company, its transaction volume and how ready the closing process is. Planning, interim and year-end work usually spans several weeks.
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