Independent Audit
As Akademik Bağımsız Denetim, we remain committed to delivering high-quality independent audit services to all entities subject to statutory audit requirements.
Our mission extends beyond providing top-tier audit services to a wide client base ranging from large multinational groups to mid-sized enterprises and fast-growing, entrepreneurial businesses. We also aim to support the long-term, sustainable growth of our clients by delivering insights that enhance transparency, strengthen financial discipline and build stakeholder confidence.
The implementation of the New Turkish Commercial Code and the regulatory framework introduced by the Public Oversight, Accounting and Auditing Standards Authority (KGK) have significantly elevated the audit environment in Türkiye, reinforcing the importance of robust oversight across commercial and industrial activities. In today’s rapidly evolving economic landscape, the accuracy and reliability of financial information are indispensable—serving as a cornerstone for informed decision-making by investors, regulators and other stakeholders. Independent audits lie at the heart of this trust.
At Akademik Bağımsız Denetim, we closely follow developments in both national and international accounting and financial reporting standards, as well as all related regulatory requirements. Anchored by a global audit methodology and a risk-focused approach, we deliver integrated audit services that combine technical excellence with industry-specific knowledge and professional skepticism.
The assurance we provide—supported by our analyses and informed recommendations—creates meaningful value and enhanced resilience for our clients in an increasingly complex business environment.
Ahmet AKER
Responsible Partner Chief Auditor
Comprehensive Solutions in the Field of Independent Auditing
As Academic Independent Auditing, we provide services at international standards on the following subjects within the scope of independent auditing:
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Independent audit of financial statements prepared in accordance with Turkish Financial Reporting Standards (TFRS), compliant with IFRS, for companies subject to statutory audit under the New Turkish Commercial Code.
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Independent audit of financial statements prepared in accordance with International Financial Reporting Standards (IFRS).
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Independent audit of financial statements prepared by entities subject to the oversight of the Public Oversight, Accounting and Auditing Standards Authority (KGK).
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Audit of financial statements prepared in accordance with Capital Markets Board (CMB) regulations and standards for publicly listed companies, entities subject to capital markets legislation, and companies planning an initial public offering.
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Audit of financial statements of companies whose shares are traded on foreign stock exchanges.
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Audit of financial statements prepared in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP).
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Audit of financial statements of financial institutions prepared in accordance with the regulations and standards of the Banking Regulation and Supervision Agency (BRSA).
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Performance and reporting of agreed-upon procedures related to financial statements.
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Audit of financial statements of entities issuing bonds or other financial instruments.
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Audit of financial statements of local subsidiaries of foreign companies, including reporting in accordance with local statutory requirements for shareholders residing abroad.
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Internal control audits.
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Compliance audits conducted upon request of banks and similar financial institutions.
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Information technology (IT) systems audit.
One of the primary objectives of independent auditing is to ensure that financial statements are prepared in accordance with applicable financial reporting standards and to assess whether these statements present reliable and accurate information. Each year, International Financial Reporting Standards (IFRS) evolve, with new standards and amendments coming into effect. These changes can significantly impact the presentation of financial statements.
As a result, companies are required to prepare their financial statements annually in compliance with the standards applicable for that specific reporting period.
Fair and Transparent Audit of Financial Statements
The fundamental purpose of an independent audit is to assess whether financial statements are prepared in a fair, transparent, and reliable manner. While certain jurisdictions apply U.S. Generally Accepted Accounting Principles (US GAAP) instead of IFRS, Türkiye has fully transitioned to IFRS and operates in accordance with these standards. Since 2005, Türkiye has implemented Turkish Financial Reporting Standards (TFRS), issued by the Turkish Accounting Standards Board in alignment with IFRS. These standards have significantly enhanced the quality, comparability, and integrity of financial reporting in the Turkish market.
As in most global markets, companies in Türkiye are legally required to have their financial statements audited in compliance with TFRS. At Akademik Independent Audit, we apply a risk-based and insight-driven audit methodology, enabling us to deliver high-quality assurance services that support stakeholder confidence and strengthen financial reporting processes.
Full Compliance with Standards and Legal Regulations
In accordance with the Turkish Commercial Code, entities subject to independent audit have been required, since 1 January 2013, to prepare their financial statements in line with Turkish Accounting Standards (TMS/TFRS). At each reporting period-end, companies must present their financial statements in compliance with the formats and guidance published by the Public Oversight, Accounting and Auditing Standards Authority (KGK).
Independent auditors, within their audit reports, are obligated to express an opinion based on an audit conducted in accordance with applicable auditing standards and their professional responsibilities. Beyond accuracy, consistency, and compliance with established accounting policies, the auditor’s report must also reflect adherence to ethical requirements, robust audit planning, and the execution of procedures with due professional care.
At Akademik Independent Audit, we remain committed to delivering high-quality, reliable, and insight-driven audit services to all entities subject to statutory audit requirements. Our approach ensures full compliance with regulatory standards while supporting transparency, credibility, and stakeholder trust.
Conditions for Being Subject to Independent Audit
With the Presidential Decree No. 8313, published in the Official Gazette dated 6 April 2024 (Issue No. 32512), the thresholds for determining companies subject to independent audit have been revised.
Pursuant to the amendment introduced in subparagraph (b)(3) of Article 3/1 of the “Decision on the Determination of Companies Subject to Independent Audit,” all joint-stock and limited liability companies—regardless of sector—are required to undergo independent audit under the Turkish Commercial Code if they exceed at least two of the following criteria for two consecutive financial periods:
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Total assets: 150 million TRY
(previously 75 million TRY) -
Annual net sales revenue: 300 million TRY
(previously 150 million TRY) -
Number of employees: 150
This amendment, introduced by Presidential Decree No. 8313, applies to financial periods beginning on or after 1 January 2024 and entered into force on 6 April 2024.
For the full text of the Presidential Decree, please refer to the Official Gazette (06.04.2024, No. 20240406-6).