More than half of the capital and voting rights in an audit firm must belong to locally licensed auditors working in the firm and all its partners must be locally licensed auditors. In principle, Turkish citizenship is required to become a locally licensed auditor, but foreign professionals may be approved in accordance with the principle of reciprocity.
"Article 2 – A) Subject of the profession of accounting and financial advisor:
Enterprises and businesses belonging to real and legal persons;
a) To keep the books, to prepare the balance sheet, profit and loss statements, statements and other documents in accordance with the generally accepted accounting principles and the provisions of the relevant legislation, and to perform similar works.
b) Establishing and developing accounting systems, arranging business, accounting, finance, financial legislation and their applications, or providing consultancy on these issues.
c) To conduct examinations, analyzes, audits, to give written opinions on matters related to financial statements and declarations, to prepare reports and the like, to perform arbitration, expertise and similar works on the subjects written in the above paragraph, based on the documents.
The works listed above; Those who do not be affiliated with a workplace are called independent accountants and financial advisors.
B) Subject of chartered accountant profession:
In addition to carrying out the works written in subparagraphs (b) and (c) of paragraph (a), it is to carry out certification works within the framework of the regulation to be issued in accordance with Article 12 of the Law.
Certified public accountants cannot keep accounting books, open accounting offices and cannot be partners in accounting offices.
[...]
Article 4 – The general conditions of being a member of the profession are as follows:
a) Being a Turkish citizen (the provision about foreign public accountants and financial advisors is reserved).
[...]
Article 8 – The services within the scope of Article 2 from the rights they have obtained in their home country of the persons who are nationals of a foreign state who have officially regulated the profession of public accountant and financial advisor, provided that they have the qualifications sought in the independent accountant financial advisory service under the title of independent accountant financial advisor with the condition of reciprocity. They may be allowed to do so in Turkey with the approval of the President.[...]" (Independent Accountant Financial Advisory and Sworn Financial Advisory Law (No. 3568 of 1989), last amended by Law No. 700 of 2018, Articles 2, 4 and 8 [google translation])
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"ARTICLE 4 – (1) In this Regulation;
a) Independent auditor: Persons authorized by the Agency from among the professionals who have obtained the certificate of certified public accountant or certified public accountant in accordance with the Law on Certified Public Accountant and Sworn-in Certified Public Accountant, dated 1/6/1989 and numbered 3568, to conduct independent audits, [...]
ö) Member of the profession: Certified public accountants and certified public accountants who have been licensed in accordance with the Law No. 3568,
[...]
ARTICLE 13 – (1) Without prejudice to the conditions stipulated in the Law No. 3568 and the relevant legislation, the organization requesting an activity permit in the field of inspection; [...]
e) More than half of its capital and voting rights belong to its auditors and all its partners are members of the profession, [...]
ı) All the members of the management body are members of the profession, and the majority, not exceeding seventy-five percent, consists of auditors on their staff, [...]" (Regulation on Independent Auditing (26.12.2012), last amended 23.11.2018, Articles 4 and 13 [google translation])
Independent Accountant Financial Advisory and Sworn Financial Advisory Law (No. 3568 of 1989), last amended by Law No. 700 of 2018, Articles 2, 4 and 8
Regulation on Independent Auditing (26.12.2012), last amended 23.11.2018, Articles 4 and 13
[<a href="https://www.mevzuat.gov.tr/mevzuat?MevzuatNo=3568&MevzuatTur=1&MevzuatTertip=5">Law</a>],[<a href="https://www.mevzuat.gov.tr/mevzuat?MevzuatNo=16907&MevzuatTur=7&MevzuatTertip=5">Reg</a>]