Our Services

Audit & Assurance

Turkey’s rapidly developing regulatory environment is challenging, even for domestic companies. But the recent adoption of the new Turkish Commercial Code has introduced a new era of unprecedented compliance requirements, demanding international standards of financial reporting. Our specialist assurance teams help major domestic companies, multinational groups, and local and international SMEs on all aspects of their compliance requirements, including:

• statutory and non‐statutory audit, and the compilation of financial statements to Turkish (TFRS) or International Financial Reporting Standards (IFRS);
• internal audit and corporate reporting;
• compliance requirements as stipulated under the Turkish Commercial Code; and
• auditing and reporting for international lenders, multilateral investment agencies and EC and other funding agencies.

We have assisted many enterprises on their due diligence prior to initial public offerings (IPOs) and other capital markets transactions, and have extensive experience in the auditing of mid‐cap listed companies on the Borsa Istanbul (BIST).

Internal audit and corporate governance

Ever‐more complex corporate structures, globalised business operations, and new technologies have seen today’s businesses subject to unprecedented levels of internal risk – and in need of effective control mechanisms to manage these. We have helped many organisations review their internal controls, identify potential areas of risk, optimise reporting processes and increase transparency for their senior management, investors and boards. We regularly advise organisations in the establishment and development of their own internal audit functions, and assist them in their internal audit planning, risk management reviews, and training of internal audit staff.

Tax Compliance & Consulting

Turkey’s complex tax environment – and frequently changing regulation – can leave businesses at risk. Penalties can be onerous, and tax investigations costly, and drawn out. We support in‐bound investors and expanding Turkish companies on their international and domestic compliance, transfer pricing, tax planning and cross‐border structuring, as well as VAT and other indirect tax, accounting and management issues, and we have extensive experience in working with regulators in the resolution of tax disputes. Our specialist tax advisory services include:

• VAT compliance: including full compliance services, dispute resolution, and reimbursements.
• Management of indirect tax liabilities: including tax planning, compliance and dispute resolution services for those organisations and sectors most directly impacted by the Special Consumption Tax.
• Tax consulting: we have assisted many businesses in resolving disputes with regard to intangible assets, royalty and licensing agreements, share transfers, and build‐operate‐transfer (BOT) projects, as well as optimising their operations under double taxation treaties.
• Transfer pricing: we help major organisations and SMEs meet their compliance obligations on transfer pricing documentation and foreign related‐party transactions; our membership of Russell Bedford International means we are able to call on specialist international expertise (specifically on pan‐ European comparables and global precedent) in the resolution of disputes.
• Research and development: we have extensive experience in the preparation of project applications and financial reports and audits for organisations in receipt of TUBITAK, KOSGEB, European Commission and other international funding sources.

Transaction Support

Working closely with our specialist tax teams, we support international investors, large domestic enterprises and growing SMEs at every stage of their acquisition and growth strategies – from target analysis, due diligence and risk analysis, corporate financing solutions, tax structuring, review of sale/purchase agreements, post‐transaction audits – and, where necessary, corporate restructuring or disposals.