The Criteria for Being Subject to Independent Audit have been amended by the Decision of the Council of Ministers dated 26.03.2018 and Numbered 2018/11597. These criteria are still valid as of 5.5.2021. No new determination is expected to be made due to the Covid-19 Pandemic.
01.01.2018 determined by the date of the resolution of Council of Ministers dated 19.12.2012 2012/4213 16.02.2016 date and revised by the decision of the Council of ministers and 2016/8549 hadler 26.03.2018 2018/11597 by the decision of the Council of Ministers of date and has been revised again for the year 2018. It is subject to independent audit within the framework of the Council of Ministers Decision No. 2018/11597, which was re-determined for 2018; Alone or together with its subsidiaries and affiliates, the following three criteria which companies have at least two years, TCC No. 6102 and are subject to audit public oversight of the authority in accordance with the Decree No. 660.
Audit Criteria for 2020 and 2021 according to the Decision of the Council of Ministers in question;
a) All companies listed in List (I) without any criteria,
b) Other companies that have exceeded the threshold values of at least two of the following three criteria Dec two consecutive accounting periods,
1) The threshold value for companies whose Capital Market instruments are not traded on an exchange or other organized markets, but are considered public under the Capital Market Law dated 6.12.2012 and Numbered 6362;
a) The total amount of assets is 15 million and more Turkish liras.
b) Annual net sales revenue of 20 million and more Turkish liras.
c) The number of employees is 50 and above,
2) Threshold values for companies specified in the Attached List II;
a) The total amount of assets is 30 million and more Turkish liras.
b) Annual net sales revenue of 40 million and more Turkish Liras.
c) The number of employees is 125 and above,
3) threshold values for all other companies that are not within the scope of those specified in subparagraphs 1 and 2; (General Criteria;)
a) The total amount of assets is 35 million and more Turkish liras.
b) Annual net sales revenue of 70 million and above is Turkish Lira.
c) The number of employees is 175 and above,
it is determined as follows. (The Full List is below.)
In addition, the companies on the list attached to the Decision of the Public Oversight Authority dated 21.08.2014 and numbered 75935942-050.01.04-(01/26) will be able to produce Reports in accordance with TFRS (Turkish Financial Reporting Standards), while the companies not listed will optionally be able to have their Financial Reports and Audits in accordance with TFRS or within the Scope of BOBI FRS.
With the publication of the BOBI Financial Reporting Standard, all companies reporting within the scope of the MSUGT in question will submit their Financial Reports on 01.01.2018 and later and the Audit of these financial Reports will be conducted by BOBI FRS.according to the, he will have to.
The Big business criterion included in BOBI FRS has been determined separately and BOBI FRS.n will be applied in transactions belonging to Large Enterprises.
Large Business Criteria;
a) The total amount of assets is 75 million and more Turkish liras.
b) Annual net sales revenue of 150 million and more Turkish liras.
c) The number of employees is 250 and above,
CONCLUSION: The Criteria for Being Subject to Independent Audit have been amended by the Decision of the Council of Ministers dated 26.03.2018 and Numbered 2018/11597. as of 5.5.2021, these criteria are still valid.
Threshold values for all other companies that are not within the scope of those specified in subparagraphs 1 and 2 published in the Annex October the Communique; (General Criteria;)
a) The total amount of assets is 35 million and more Turkish liras.
b) Annual net sales revenue of 70 million and above is Turkish Lira.
c) The number of employees is 175 and above,
it will be evaluated as. In 2020 and 2021 (for 2020, the data for 2019-2018 will be evaluated, and for 2021, taking into account the benchmark data for 2019-2020).) The whole List is October.
In addition, the companies on the list attached to the Decision of the Public Supervision Agency dated 21.08.2014 and numbered 75935942-050.01.04-(01/26) will be able to produce Reports in accordance with TFRS (Turkish Financial Reporting Standards), while the companies not listed will be able to optionally make their Financial Reports and Audits in accordance with TFRS or within the Scope of BOBI FRS.
With the publication of the BOBI Financial Reporting Standard, all companies reporting within the scope of the MSUGT in question will submit their Financial Reports on 01.01.2018 and later and the Audit of these financial Reports will be conducted by BOBI FRS.according to the, he will have to.
The Big business criterion included in BOBI FRS has been determined separately and BOBI FRS.n will be applied in transactions belonging to Large Enterprises.
LIST NO. I (All are Subject to Independent Audit.)
1) One of the companies subject to the regulation and supervision of the Capital Markets Board in accordance with the Capital Markets Law;
a) Investment organizations,
b) Collective investment organizations,
c) Portfolio management companies,
ç) Mortgage financing institutions,
d) Asset leasing companies,
e) Central clearing organizations,
f) Central storage organizations,
g) Data storage organizations,
d) Rating agencies,
h) Valuation organizations,
i) Capital market instruments joint stock companies listed on a stock exchange and/or other organized markets.
i) Joint stock companies that are traded on an Exchange or other organized markets but issue capital market instruments excluding shares without public offering (until the end of the accounting period in which the capital market instruments they issue are redeemed) or have an issue certificate with a validity period approved by the Capital Market Board for this purpose,
2) companies subject to the regulation and supervision of the Banking Regulation and Supervision Agency in accordance with the Banking Law dated 19.10.2005 and numbered 5411;
a) Banks,
b) Rating agencies,
c) Financial holding companies,
ç) Financial leasing companies,
d) Factoring companies,
e) Financing companies,
f) Asset management companies,
g) Companies that have a qualified share in financial holding companies as defined in Law No. 5411.
3) Insurance Law No. 5684 dated 3/6/2007 pension savings and investment system Law No. 4632 dated 28/3/2001 which operates under individual insurance, reinsurance and pension companies.
4) Authorized institutions that are allowed to operate as members of the Istanbul Gold Exchange, brokerage firms of precious metals, joint stock companies engaged in the production or trade of precious metals.
5) dated 10/2/2005 accordance with the provisions of Law No. 5300 agricultural products licensed warehousing was established as a stock company in agricultural products that the licensed warehouse in accordance with the provisions of Law No. 2699 public companies dated 11.8.1982 stores in the form of a joint stock company established companies.
6) Media service provider organizations that own national terrestrial, satellite and cable television;
a) The right to broadcast national television in a terrestrial environment,
b)Satellite television broadcasting license,
c) Cable television broadcasting license for more than one,
(II) NUMBERED LIST (Subject to Independent Audit according to the Established Criteria)
Threshold values for companies specified in the Attached List II;
a) The total amount of assets is 30 million and more Turkish liras.
b) Annual net sales revenue of 40 million and more Turkish Liras.
c) The number of employees is 125 and above,
1) capital of at least 25% of the public professional organisations and trade unions, associations, foundations, cooperatives and their parent organizations, of companies that are directly or indirectly owned at least two of the following three criteria helpers.
2) Companies that publish newspapers daily throughout the country that provide at least two of the following three criteria.
3) Call Centers, with the exception of the electronic signature law No. 5070 date and 15.12.2004, 5.11.2008, dated the Electronic Communications Act No. 5809, 6102 numbered Turkish commercial code and the law on Postal Services dated 9.5.2013 6475 article 1525 of companies that are subject to inspection in the context of information and Communication Technologies Authority
4) Companies that receive a License, Certificate or authorization certificate from the Energy Market Regulatory Agency and operate under the regulations of this institution,
5) Except for those covered by List I;
a) non-active activities or revoked or temporarily suspended (and similar operations procedures necessary alterations, including ones that have not yet been performed) subsidiaries and companies, excluding the savings deposit insurance fund (SDIF) (repealed law No. 4389 banks with its subsidiaries, companies under the Banking Law No. 5411 and the inherent control and management by a state,
b) State-owned enterprises and subsidiaries operating under the Legislative Decree on State-Owned Enterprises dated 8.6.1984 and numbered 233, as well as companies whose capital is at least 50% owned by municipalities,
Ahmet GÜNDÜZ – YMM