- Turkey is included in the IFAD GAAP Convergence Studies
- National Professional Organisation Website: Union of Chambers of Certified Public Accountants of Turkey
- Accounting Standard Setter: Turkish Accounting Standards Board
- Response to IFAC Member Body Survey on Standard Setting and Regulation
- World Bank ROSC Accounting and Auditing Report
Financial Reporting Framework in Turkey
All companies listed on the Istanbul Stock Exchange are required to follow IFRSs. Communique Serial: XI No:25 allows an option to follow IFRSs in one of two ways due to delays in translating IFRSs into Turkish:
- A listed company can follow the official English version of IFRSs as published by the IASB, in which case the audit report and basis of presentation footnote make an explicit statement of compliance with International Financial Reporting Standards.
- A listed company can follow the Turkish translation of IFRSs. Because of the translation delay, the audit report and basis of presentation footnote state that the financial statements comply with "IFRSs as adopted for use in Turkey".