Today’s global economic and financial conditions, the environment that the international and national business world is within bring the concepts of continuity, reliance and transparency forward in corporations. In order to provide transparency, reliance, consistent information and continuity; independent audit and financial reporting at international standards have become needs of corporations.
In our day, audit and reporting at international standards require to know the sector in which the audited customer engages in activities, know economic conditions very well, and make the risk analyses right.
Güncel Independent Audit Services Department, which follows the changing regulations in Turkey and in the world closely with its experience and accumulation of knowledge, by reflecting its local experience in the sector onto growing global network of Güncel, gives multi-faceted services that produce the most suitable solutions for the needs of corporations, provides its expertise on technical, accounting and audit subjects to its customers, and supports its business partners.
The financial statement audit comprises to give opinion on whether the financial statement and notes of corporations are in accordance with the International Financial Reporting Standards (IFRS) or the standards published by regulators, or not.
Our audit approach is;
- A planning and coordination free from surprises,
- Sector-focused approach,
- Providing on-time, healthy and regular communication to discuss the developments related to accounting and reporting and the matters related to audit,
- Being carried out of the audit on site and by knowledgeable teams.
Güncel Group has the audit mandate licenses of ;
- Capital Markets Board
- Energy Market Regulatory Board
- Banking Regulation and Supervision Agency
- Public Oversight Accounting and Auditing Standards Authority (PIEs – Insurance and Private Pension Included).
In addition, Güncel Group has also the feature of being one of the first companies applying and documenting the ISO 9001 Quality Management System and ISO 27001 Information Security Management System.
Corporate Reporting Services
Güncel Group, by providing corporate reporting service emerging in the light of financial and non-financial information (brand value, market share, human resources and customer satisfaction etc.), helps the corporate heads on making decisions of business and aims to raise sense of realism of the corporation on both directors and capital markets basis.
IFRS – Financial Statement Audit
International Financial Reporting Standards (IFRS) which is the biggest change in the field of accounting of recent times has been put into practice in many countries under the leadership of EU-member states by year 2005. As of this date; the corporations which took stock in the organized markets, or of which financial instruments, which they issued, are traded have made transition to the IFRS.
All organized markets including those in the USA either have made transition to the IFRS completely or initiated the transition period, and made significant progresses. Changes in the financial reporting standards with the developments occurred in the last few years have been much more comprehensive than the change occurred in the financial reporting in past few decades.
In also our country transition to the IFRS has increasingly continued each passing day. The corporations subject to many foundations such as Capital Markets Board, Banking Regulation and Supervision Agency, Energy Market Regulatory Board make their financial reporting in accordance with the Turkish Financial Reporting Standards (TFRS) which is already in making as UFRS-based. Turkish Financial Reporting Standards, which is prepared in accordance with the IFRS by the Public Oversight Accounting and Auditing Standards Authority, have become compulsory for many businesses with adoption of the New Turkish Commercial Code; as a result of enlarging the scope with the notifications published by POA (Public Oversight Authority), it is foreseen that these standards will become compulsory for all commercial enterprises in future.
Güncel Group accompanies the corporations with its experience and expertise on the subjects of IFRS audit and reporting.
Güncel Group also gives services for financial statement readers of the corporations to provide transparent, reliable and consistent information, with its audit methodology, experience and accumulation of knowledge in different sectors.
Internal Audit and Control Services
In our country where significant progresses have been achieved in the field of corporate governance, the internal audit activities constitute a significant source of trust for the management, and importance of the internal audit experts for the management increases day by day.
Güncel Group supports companies with the services it provides in the fields of establishment of internal control mechanism, assessment and development of internal audit structures, which it presents to the management in the realization of process stage.
Public Offering and Audit Services
In our day, corporations carry out the public offering transactions in order to integrate into the global economy, provide financial resources to the companies and meet their capital needs.
Güncel Group protects interests of the both shareholders and management, with audit services and consultancy services it gives in the public offering process.