Elif Kalebek and Ataberk Suvacı co-authored this article.
With the Presidential Decision Amending the Decision on the Determination of Companies Subject to Independent Audit (“Amendment Decision”), published in the Official Gazette dated May 1, 2025, and numbered 32887, the thresholds for determining companies subject to independent audit have been updated.
As is known, under the Presidential Decision on the Determination of Companies Subject to Independent Audit (“Presidential Decision”), companies are subject to independent audit provided that they solely or together with their affiliated companies and subsidiaries, exceeds thresholds of at least two of the following criteria for two consecutive financial year: number of employees, total assets, and annual net sales revenue.
Updated Threshold with the Amendment Decision
Pursuant to the Amendment Decision, the updated thresholds are as below:
1.Companies listed in Annex (II) of the Presidential Decision
|
Thresholds Before Amendment Decision |
Thresholds After Amendment Decision | |
|
Total Assets |
60.000.000 TL |
120.000.000 TL |
|
Annual Net Sales Revenue |
80.000.000 TL |
150.000.000 TL |
|
Number of Employees |
100 |
100 |
2.Companies that do not fall within the scope specified in subparagraphs (1) and (2) pursuant to the Presidential Decree
|
Thresholds Before Amendment Decision |
Thresholds After Amendment Decision | |
|
Total Assets |
150.000.000 TL |
300.000.000 TL |
|
Annual Net Sales Revenue |
300.000.000 TL |
600.000.000 TL |
|
Number of Employees |
150 |
150 |
It should be noted that, there is no change regarding companies whose capital market instruments are not traded on a stock exchange or other organized markets but are considered publicly traded under the Capital Markets Law.
The Amendment Decision entered into force on the date of its publication and serves as the basis for determining whether companies will be subject to audit for accounting periods beginning on or after January 1, 2025.
You can access the full text of the Amendment Decision (in Turkish) here.
You can access the text of the Presidential Decision (in Turkish) here.