Other insurance services
Today, many regulatory institutions and organizations require limited assurance reports on financial and other matters specified by legislative regulations. The most important of these institutions and organizations are the Central Bank of the Republic of Turkey (CBRT), banks, the London Bullion Market Association (LBMA), and the Dubai Commodity Centre (DMCC). As the Independent Audit and Assurance Services Department of PKF Istanbul, we have been authorized by the relevant authorities to prepare independent assurance reports.
In assurance audits, we serve our clients by demonstrating the necessary professional care with our audit team, which has expertise in these specific areas.
For companies:
- If there is a foreign currency loan debt of USD 15 million or more and an independent audit of the Systemic Risk Tracking Data Form (SRVTSVF) is required to be submitted to the Central Bank of the Republic of Turkey (CBRT).
- If the bank has a credit limit of TRY 100 million or more and the Banking Regulation and Supervision Agency (BDDK) requires an audit of the analysis table containing financial ratios to be submitted to the banks.
- If the gold refinery is required to submit a guarantee report to the London Bullion Market Association (LBMA) and/or the Dubai Commodities Centre (DMCC) under the International Standard on Guarantee Obligations 3000 (ISAE 3000),
insurance services are required.
We conduct assurance audits in accordance with Turkish Auditing Standards (TDS), International Standards on Auditing (ISAE), and International Standard on Auditing (ISAE 3000) by our experienced and independent audit team, in accordance with professional ethical principles and current auditing standards.
- In accordance with Turkish Auditing Standards (TDS); Independent review of the Systemic Risk Tracking Data Model (SRVTSVF) prepared in accordance with the legal regulations of the Central Bank of the Republic of Turkey (CBRT);
- In accordance with International Standards on Auditing; Reviewing the analytical schedule required by banks in accordance with the provisions of the “Regulation on Bank Credit Transactions” published by the Banking Regulation and Supervision Agency (BDDK),
- in light of the legislation and regulations stipulated in the International Standard for Assurance Audits 3000 (ISAE 3000), the “Third-Party Audit Regulation” for ISAE 3000 auditors, as part of the Gold Responsibility Program published by the London Bullion Market Association (LBMA), the OECD Guide to a Responsible Gold Supply Chain, and the Gold Supply Chain Policy for Gold Refining Companies, natural and legal persons in the Islamic Republic of Iran, the Bolivarian Republic of Venezuela, and other embargoed countries, gold and precious metals, etc. Limited independent oversight of whether or not trading is taking place.
Within the scope of other assurance services, we handle matters in light of legislative regulations related to limited assurance. We plan assurance audits, taking into account the importance and sensitivity of the issue and finding solutions to client needs in a timely and comprehensive manner.
Within the scope of ISAE 3000, we consider whether there is an effective risk management plan, including supply chain risk assessments, compliance system performance assessments, internal control and communications system assessments, and customer acceptance policies assessments under the Know Your Customer (KYC) framework.
Independent audit services:
Independent review of financial statements.
We closely follow legal regulations relating to accounting and auditing standards and apply current audit methodology generally accepted worldwide.
Preparing corporate reporting packages.
It includes preparing tables, charts and analyses containing various performance indicators to be presented to the senior management of the organization.
Fraud investigations.
Fraud auditing is the determination of whether employees of a company have intentionally engaged in deception in order to obtain illegal benefits for themselves.
Compliance audit.
As a result of the compliance audit, full compliance with internal directives and legal requirements was ensured.
Activity audit.
It reveals whether a company is generally effective in its activities, it also helps measure whether the company is successful in achieving its goals.
Productivity audit.
Auditing activities is not limited to accounting transactions alone but also includes other functions in the business, so its scope of application is very broad.
Internal audit.
Reviewing and implementing an internal control system is crucial for business success, as it ensures effective reporting to management and aligns with their vision.
Sales audit.
Review business volume, sales privileges linked to business volume, franchise rights, sales agencies, distribution agencies, shopping mall rental fees, etc. within the scope of contracts.
Other insurance services.
Many institutions and regulatory organizations today require limited assurance reports on financial and other issues identified by legislative regulations.
