Independent Audit Services
Audit teams having deeper technical knowledge and specializing in diverse key areas of focus, Mazars Denge is ready to deliver boutique audit services with the highest quality to you. Our portfolio of clients comprises businesses of different sizes that are engaged in a vast range of industries, including manufacturing, construction, textile, pharmaceuticals, agriculture, tourism, food and similar consumables, finance, insurance, investment and banking, retail, air transport, machinery, electronics, petroleum, telecommunication, as well as local and central governmental organizations and nonprofit organizations.
Our Audit Department, established in 1988, was re-structured in 1998 and has dedicated itself to improving its service quality to the highest global standard in line with the programs of Mazars, which is an international financial consulting group, and by tapping into the group’s extensive professional knowledge. At Mazars Denge, we provide audit services in accordance with the International Audit Standards and Turkish Audit Standards which include certain audit procedures and methods that are necessary we use, if necessary, to verify accounting records’ correctness.
- Auditing of financial statements prepared in accordance with Turkish Financial Reporting Standards (TFRS) issued by Public
- Oversight Accounting and Auditing Standards Authority (POA) which is in line with International Financial Reporting Standards (IFRS), the Capital Markets Board of Turkey (CMB) regulations, the Banking Regulation and Supervision Agency (BRSA) regulations, the Energy Market Regulatory, the insurance regulations of the Treasury Undersecretariat, the Turkish Tax Code, as well as with US GAAP and accounting standards applicable in other countries (such as Germany, France and Italy)
- Restatement of financial statements to ensure their compliance with IFRS, TFRS, US GAAP or with the accounting principles of Germany, France or Italy, , and establishing financial reporting systems accordingly
- Conversion of TRY-denominated financial statements in other reporting or functional currencies within the framework of IFRS
- Preparation of financial due diligence reports for identifying financial risks in target businesses in cases of acquisitions or mergers or for assisting vendors throughout the process of selling their business
- Asset valuation for business acquisitions and similar complex transactions
- Applying agreed upon procedures for compliance with contractual requirements and financial ratios in cases of loan agreements
- Fraud and corruption audits
- Preparation of special audit reports for business valuation purposes
- Preparation of assessment and advisory reports to support corporate management
- Customized special purpose audit and consulting services
Mazars Denge is licensed by the following authorities in Turkey to perform independent audits at businesses regulated by them:
- Public Oversight Accounting and Auditing Standards Authority
- Capital Markets Board (companies with stocks traded on the capital market)
- Treasury Undersecretariat (insurance and reinsurance companies)
- Banking Regulation and Supervision Agency (banks and other financial institutions)
- Energy Market Regulatory (companies operating in the energy market)
- Mazars Denge is also among the short-listed independent audit firms accredited by the World Bank and IFC and their affiliated organizations to audit their special projects.
- Mazars Denge is one of the few Turkey-based audit firms authorized by the PCAOB (Public Company Accounting Oversight Board) to provide independent audit services to companies listed in the U.S. within the framework of the Sarbanes-Oxley Act, 2002