Statutory & IFRS Audit
Audit firm in Turkey for foreign investors and multinationals
Atlas Partner is an İstanbul-based independent audit firm licensed by KGK and SPK. We deliver statutory, IFRS and group-reporting audits for Turkish subsidiaries of multinationals, private companies subject to Turkish audit thresholds, and foreign investors preparing for M&A or funding rounds.
Mandatory audit thresholds trigger fast
Under Council Decision No. 8660, companies exceeding TRY 300M assets, TRY 600M revenue or 150 employees (any two of three, two consecutive years) fall into statutory audit scope. Foreign-owned subsidiaries frequently cross these thresholds within 12–24 months of setup.
IFRS + local dual reporting
Turkish subsidiaries typically prepare TFRS (local Turkish GAAP) statutory books while the parent needs IFRS group reporting packages. We deliver both in one engagement with a single lead partner.
Regulated by KGK & SPK
Every audit we sign is registered with KGK's audit registry. SPK licensing lets us audit listed companies, funds and capital-market participants — a scope only a small fraction of Turkish audit firms hold.
Multilingual partner-led delivery
English is standard. Arabic and German capability on request for GCC and DACH parent companies. All deliverables — audit report, management letter, group reporting deck — are issued bilingually (TR + your language).
What's included in a statutory audit engagement
- Planning & risk assessment aligned with ISA 315 (revised 2019)
- Interim fieldwork (Q3) + year-end fieldwork (Feb–Apr)
- TFRS / BOBI FRS statutory financial statements
- IFRS conversion & group reporting package (parent template)
- Management letter with internal-control observations
- KGK-registered independent audit report (Turkish + English)
- Board & audit-committee presentation
- Follow-up support during parent's group audit
Process
- 1
Scoping call (free, 30 min)
We assess your revenue, group structure, reporting frameworks (TFRS/IFRS/US GAAP) and deadlines. You receive a scoped fee proposal within 3 business days.
- 2
Engagement letter & KGK registration
Bilingual engagement letter, independence checks, KGK registration of the audit assignment.
- 3
Interim fieldwork
Walkthrough of key processes, controls testing, opening-balance verification, interim substantive procedures.
- 4
Year-end fieldwork
Substantive testing, confirmations, inventory observation, related-party procedures, tax provision review.
- 5
Reporting & sign-off
Audit report, IFRS group package, management letter, presentation to management. Turkish + English deliverables.
Indicative fees (2026)
Small foreign-owned subsidiary (revenue < TRY 100M): EUR 6,000–12,000. Mid-market (TRY 100–500M revenue, single entity): EUR 12,000–22,000. Multi-entity group or SPK-listed: EUR 22,000–35,000+. Fees include IFRS group reporting package.
Fixed-fee. No hidden charges for KGK registration, translation or audit-committee meetings.
Frequently asked questions
- Who must have a statutory audit in Turkey?
- Companies exceeding any two of three thresholds (TRY 300M assets, TRY 600M revenue, 150 employees) for two consecutive years, plus all SPK-regulated entities, banks, insurance companies, and companies with foreign-listed parents requiring group audit inclusion.
- Can foreign parent auditors (Big Four global network) rely on your work?
- Yes. We routinely serve as component auditor for Big Four, Grant Thornton, BDO and mid-tier global networks. We deliver ISA 600-compliant reporting packages and coordinate directly with the group engagement team.
- Do you audit both TFRS and IFRS?
- Yes. Turkish subsidiaries typically prepare TFRS statutory books; parent-group reporting is in IFRS. We deliver both in one engagement without duplicating fieldwork.
- What's the timeline from engagement to signed audit report?
- For a December year-end: engagement in Q3, interim fieldwork Oct–Nov, year-end fieldwork Feb, signed report by mid-April. Faster timelines possible for urgent M&A or funding cases.
- Are your audit reports accepted by foreign regulators and banks?
- Our KGK-registered ISA-compliant reports are accepted by all Turkish regulators, foreign banks financing Turkish operations, and parent-company auditors globally. For US SEC filings, we work under a global network's PCAOB registration.
- Do you handle transfer-pricing documentation as part of the audit?
- We review transfer-pricing exposure during the audit and flag deficiencies. Full CbCR + Master File + Local File documentation is a separate advisory engagement — quoted on request.
Get a scoped audit fee proposal
30-minute scoping call with a partner. English, Arabic or German. Proposal within 3 business days.