Independent Audit

Independent Audit Services

We carry out our Independent Audit activities within the body of BAYRAKÇI BAĞIMSIZ DENETİM VE DANIŞMANLIK A.Ş. In line with the needs of the companies, independent audits of the financial statements and accounts requested by the Public Oversight Authority within the scope of legal obligations, as well as special-purpose reporting, error, fraud and abuse auditing are carried out for the company.

What Is Independent Audit?

Independent audit, by applying all the necessary independent audit techniques stipulated in the generally accepted independent audit standards in order to obtain sufficient and appropriate independent audit evidence to provide reasonable assurance regarding the conformity and accuracy of the annual financial statements and other financial information of the companies with the criteria set for this table and information. It means that it is inspected and evaluated through books, records and documents and connected to the report.

Who Needs Independent Audit?

All capital companies (public or non-public) with the new TCC
Banks or Financial Institutions
Public institutions

Why Independent Audit?

Independent audit is not an imperative that laws, regulations and standards impose on businesses, but is an indispensable need for today’s businesses. Transparent, clear and understandable information is the most valuable information, which is only possible with independent auditing.

Independent auditing is required to provide accurate and reliable information to:

Company Management
Public institutions (BRSA, SPK)

What are the Benefits of Independent Audit?

Independent audit has benefits for both the audited company and the public and the government.

It provides correct information flow to management.
It assists the management in making predictions and analyzes on financial statements and making sound decisions about the future.
It shows whether the financial statements reflect the truth.
Helps prevent business management and employees from cheating.
With the independently audited financial statements, it becomes easier for the business to find low-cost financing.
In a company that has undergone independent external audit, the rights of all partners are better protected.

SMMMMehmet Ufuk Bayrakçı

Mehmet Ufuk Bayrakçı  graduated from Uludag University, Department of Public Administration in 2000 and was entitled to receive the SMMM license in 2005. Bayrakçı worked as an accounting manager in the private sector between 2003-2006 and joined Bayrakçı Financial Consultancy, founded by his father Yılmaz Bayrakçı, in 2007 and continued to carry on his professional activities independently.

Independent Audit Report Types

The independent audit report includes the opinion of the independent auditor about the business financial statements as a result of the independent audit. This view is about whether all the important aspects of the financial statements are prepared in accordance with the financial reporting standards to which they are related. Because the purpose of the independent audit is to reveal whether the financial statements honestly reflect the truth in all important aspects in accordance with the financial reporting standards.