IFRS Reporting Services:

Independent audits and reporting under International Financial Reporting Standards (IFRS)

• International Financial Reporting Standards (IFRS) are financial reporting guidelines accepted in many countries and also in Turkey. Their aim is for companies to be comparable globally, transparent and clear in a globalizing world economy.

• We perform independent external auditing and reporting services within the scope of International Financial Reporting Standards (IFRS). We convert your financial statements prepared according to local country regulations to IFRS / TFRS financial statements.

• Public Oversight Authority (“KGK”) is publishing the Turkey Accounting Standards (TMS) compatible with international standards. It has been replaced by “IFRS” (International Financial Reporting Standards) instead of “IAS” (International Accounting Standard) by the International Accounting Standards Board (“IASB”). TMSs expresses one-to-one Turkish translations of IASs and TFRS expresses one-to-one Turkish translations of IFRSs, as per the signed license agreement with IASB. There is no difference for binding between TMS and TFRS.

• TMS / TFRS Comments, on the other hand, are Turkish translations of the comments created by the IFRS Interpretations Committee (IFRIC) within the body of IFRS and approved and published by IASB.

• Turkey Accounting Standards include “TMSs, TFRSs, BOBI-FRSs (Large and Medium-Sized Enterprises) and regulations and other decisions taken by the Board. You can reach all the standards from here.