The Regulations Have Been Made in Various Tax Laws
TAX CIRCULAR: 2023-05 // The regulations have been made in various tax laws with the Official Gazette dated July 7, 2023:
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As CPA International Turkey, we provide independent audit and assurance services with our experienced team to all companies whose financial statements are liable to be audited. Even though many rules have changed with the developing technology and investments in the world, in order to meet the investor expectations of companies today, first of all, the information in your financial statements must be complete, accurate and truthful. For this reason, audit services play a key role for companies and investor relations. Today, it is more important than ever that the information on the financial status of companies is accurate and reliable, and this reliability plays a key role for investors and other stakeholders. The basis of this basis is the financial reports audited by an independent auditor. At this point, as CPA International Turkey, we closely follow the current national and international accounting and financial reporting standards and provide auditing services in the most effective way. As CPA International Turkey, our aim is to contribute to the sustainability of our customers, in addition to providing the highest quality independent audit service in our client portfolio ranging from large-scale international companies to medium and small-scale dynamic companies.
Our Independent Audit and Special Purpose Audit Services:
- Independent Audit of Financial Statements
- Other Assurance Services
- Corporate Reporting Package Preparation and/or Audit
- Irregularity (Cheat) Investigations
- Compliance Audit
- Activity Audit
- Efficiency Audit
- Inner control
- Turnover Control
As CPA International Turkey, we provide the following services to our customers within the scope of independent auditing:
Independent audit of financial statements of companies that are subject to independent audit in
accordance with the New Turkish Commercial Code, prepared in accordance with IFRS-
compliant TFRS standards.Independent audit of financial statements prepared in accordance with International Financial
Reporting Standards (IFRS)Independent audit of financial statements prepared by companies subject to independent audit
in accordance with the Public Oversight Accounting and Auditing Standards Authority
(KGK).Audit of financial statements of publicly traded companies and other companies subject to
Capital Market Legislation, and companies that plan to offer their shares to the public,
prepared in accordance with the Communiqué and Standards of the Capital Markets Board.Audit of financial statements of companies whose shares are traded in other countries' stock exchanges
Audit of financial statements prepared in accordance with generally accepted accounting
principles in the USAAudit of financial statements of financial institutions prepared in accordance with the
standards and legislation of the Banking Supervision and Regulatory AuthorityAudit of financial statements of companies issuing bonds or other financial instruments
Audit of financial statements of local subsidiaries of foreign companies and audit of financial
statements prepared according to local standards for shareholders residing abroadInternal control audits
Compliance audits carried out in line with the demands of banks and other similar financial
institutions
Independent Audit of Financial Statements
Thanks to the independent audit service we have provided to many of our customers in different sectors, our teams have different industry experience in auditing and special purpose auditing. According to our mission, since the sustainability of our service quality is related to our dynamic audit team, we organize in-house theoretical and on-the-job training programs for the continuous development of our teams.
As CPA International Turkey, we follow the legal regulations related to accounting and auditing standards and apply international audit procedures that are generally accepted in the world.
As CPA International Turkey, we carry out the independent audit of the financial statements and footnotes prepared in accordance with Turkish Auditing Standards, International Auditing Standards and generally accepted auditing standards, by our independent audit team specialized in the field, in accordance with current auditing standards.
Independent audit of financial statements is the type of audit in which the annual financial statements are audited by independent audit firms or independent auditors, the audit team requires the collection of evidence regarding the audit carried out based on predetermined criteria and the preparation of a written audit report based on these evidences. The audit team conducts its audit with a professional skepticism approach and prepares its report within the framework of reasonable assurance. The audit is based on the contract between the two parties, the auditor and the auditee. With the signing of the audit contract, the audit activity is considered to have actually started. The audit team draws a conclusion about the financial information by using the evidence it has gathered to evaluate management claims regarding the accuracy and reliability of the annual financial statements, and expresses its opinion in writing in an understandable and clear language in the audit report. The audit team is obliged to submit the report to the management of the enterprise at least 15 days before the ordinary general assembly meeting for the accounting period of the audited financial statements, and in any case by the end of the maximum period stipulated for the ordinary general assembly meetings. In the Independent Audit of Financial Statements, 34 auditing standards starting with ISA are taken into account.
Special Purpose Audit
An audit of financial statements for specific matters, rather than an audit of the annual financial statements as a whole, rather than a request for an audit of a single financial statement or a specific element, account or item in a financial statement, a financial statement or summary financial statements designed to meet the financial information needs of specific users. represents the status. There are three Turkish Auditing Standards that will guide the
auditors in the financial statement audit to be carried out for a special purpose. ISA 800, ISA 805 and ISA 810 standards published by KGK are considered together with ISA 200 “General Purposes of the Independent Auditor and Conducting the Independent Audit in Compliance with Independent Auditing Standards” in the audit of special matters.
ISA 800, tax-based accounting arrangements for the set of financial statements accompanying the entity's tax return, cash receipt and cash payment accounting principles for cash flow information that may be required to be prepared for the entity's creditors, financial statementsestablished by the entity to meet obligations imposed by a regulatory entity. are considered in the audit of a full set of financial statements prepared in accordance with a special purpose framework, such as the reporting provisions or the financial reporting provisions of a contract such as a bond agreement, loan agreement or grant agreement (grant project).
ISA 805 deals with the specific matters related to the application of ISAs in the audit of a single financial statement or a specific element, account or item in the financial statement. As an example of the special audit type to which this standard will be applied, the audit performed based on the concordat requests can be given as an example. A single financial statement or a particular element, account or item in the financial statement; It can be prepared in accordance with a general or special purpose framework. In this case, ISA 800 is applied in addition to this standard in that audit. In addition, all other ISAs are considered when necessary in an audit of a single financial statement or a particular element, account or item.
ISA 810 sets out the auditor's responsibilities for audits carried out to report on summary financial statements derived from financial statements audited in accordance with ISAs11.
Independent Auditing Standard (ISA) 810 “Audits to Report on Summarized Financial Statements” is considered together with ISA 200 “General Purposes of the Independent Auditor and Performance of the Independent Auditing in Compliance with Independent Auditing Standards”. As CPA International Turkey, we offer our customers independent auditing and special purpose reporting services by blending our knowledge with our professional experience
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