What is the Objectives of This Law?
Article 1.
The objectives of this Law are to ensure the healthy and reliable functioning of operations and transactions in enterprises to audit and evaluate the results of the operations within the framework of the relevant legislation, to present the actual facts to the use of the concerned persons and authorities, to regulate the fundamentals concerning the establishment, organization, operations, activities and the elections of the principle organs of “Certified Public Accountancy” and “Sworn-in Certified Public Accountancy ” and the Chambers of Certified Public Accountants and Sworn in Certified Public Accountants.
What is the Subject of the Profession of Certified Public Accountancy and Sworn Certified Public Accountancy?
Article 2.
a. keeping books; preparing the balance sheets, profit and loss statements, tax returns and other relevant documents in line with generally accepted accounting principles and the provisions of the relevant legislation.
b. establishing and improving accounting systems, regulating administration, accounting, finance, financial legislation and performing the jobs related to their applications and providing advisory services in the related fields.
c. Based on the relevant documents on issues specified in the paragraph stated above, performing investigations, analyses and audit, presenting written opinions concerning financial statements and tax returns, preparing reports and similar documents, performing arbitration, expertise and similar services.
Persons, who perform the activities mentioned above independent from a business entity, are regarded as “Certified Public Accountants”.
In addition to the duties specified in sub-paragraphs (b) and (c) of Paragraph (A) above, the subject of the profession of “Sworn Certified Public Accountancy” also includes the application of certification within the scope of the regulation to be promulgated in compliance with Article 12 of the Law.
Sworn-in Certified Public Accountants cannot keep books related to accounting, cannot establish an accounting office and cannot become partners to the accounting offices that have already established.
What are the General Conditions to a Certified Public Accountant?
Article 4.
a. Turkish citizenship (provisions for foreign Certified Public Accountants remain reserved).
b. being competent in exercising the civil rights.
c. Not being deprived of public rights.
d. Although the time periods specified in the 53rd article of Turkish Criminal Code are terminated, not to be sentenced to one or more years imprisonment because of an intentional crime or not to be sentenced to the crimes violating the safety of the state even if it was forgiven, and the crimes against constitutional system and the progression of it, crimes against national defense, crimes against state secrets and crimes of espionage, embezzlement, malversation, bribe, theft, fraud, falsification, breach of confidence, fraudulent bankruptcy, rigging an auction, money laundering or smuggling.
e. Not being penalized by expulsion from the government service consequent to an investigation.
f. Not possessing conditions incompatible with the honor and dignity of the profession.
What are the Conditions to be a Certified Public Accountant?
Article 5.
a. having at least a B. A. degree in law, economics, business administration, accounting, banking, public administration and political science from a Turkish university, or from foreign universities offering degrees equivalent to their Turkish counter parts, on the condition that this equivalence is ratified by the Higher Education Committee, or holding a post-graduate degree in one of the disciplines mentioned above, following an undergraduate degree received in a different branch.
b. working as a trainee for at least three years.
c. passing the examination for Certified Public Accountants.
This condition does not apply to the inspectors of public banks rendering audit services throughout the country, to individuals authorized for inspection in compliance with the relevant legislation, to the applicants who have served in public institutions and establishments after having received such authorizations, and to the individuals who have given lectures in the universities on the above mentioned subjects as members of the teaching staff for a period of at least 8 years.
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