Other Assurance Services

Today, many regulatory institutions and organizations request limited assurance reports on financial and other issues that they have determined by legislative regulations. The leading ones of these institutions and organizations are Central Bank of the Republic of Turkey (CBRT), banks, the London Bullion Market Association (LBMA) and Dubai Commodities Center (DMCC). As PKF Istanbul Independent Audit and Assurance Services Department, we have been authorized by the aforementioned authorities to prepare an independent assurance report.

In assurance audits, we serve our customers by showing the necessary professional care with our audit team, which is also experienced in these specific areas.

The company needs assurance services if;

• It has a loan debt USD 15 million or more in foreign currency and it is required to have an independent audit of “Systemic Risk Data Monitoring System Data Sheet” (SRDMSDS) to be submitted to Central Bank of the Republic of Turkey (CBRT),
• It has a credit limit of 100 million TL or more in banks and it is required to have the analysis table including financial ratios audited to be submitted to banks in accordance with the regulations of the Banking Regulation and Supervision Agency (BRSA),
• As a Gold refinery company, it is required to submit an assurance report to the London Bullion Market Association (LBMA) and/or Dubai Commodity Center (DMCC) under the International Standard on Assurance Engagements 3000 (ISAE 3000)

Assurance audits are conducted by our expert and experienced independent audit team in accordance with professional ethical principles and current audit standards under the Turkish Auditing Standards (TDS), International Standards on Assurance Engagements, the International Standard on Assurance Engagements 3000 (ISAE 3000).

• According to the Turkish Auditing Standards (TDS) the independent audit of “Systemic Risk Data Monitoring System Data Sheet” (SRDMSDS) prepared in accordance with the legal regulations of Central Bank of the Republic of Turkey (CBRT),
• According to the International Standard on Assurance Engagements, the audit of the analysis table, which is mandatory to be obtained by banks according to the provisions of the “Regulation on Credit Transactions of Banks” published by the Banking Regulation and Supervision Agency (BRSA),
• In the light of the International Standard on Assurance Engagements 3000 (ISAE 3000), the “Third Party Auditng Regulation” determined for ISAE 3000 auditors within the framework of the Responsible Gold Guidance issued by the London Bullion Market Association (LBMA) and the legislation and regulations stipulated in the OECD Responsible Gold Supply Chain Guide, the limited independent audit of whether or not the gold refinery companies has carried out any trade in gold, precious metals etc. with the real and legal persons of the Islamic Republic of Iran, the Bolivarian Republic of Venezuela and other banned countries in the scope of the gold supply chain policy.

Under the scope of other assurance services, we handle the issue in the light of legislation regulations on limited assurance . Assurance audits are planned considering the importance and sensitivity of the issue, and we find complete and timely solutions to customers’ needs.
Within the scope of ISAE 3000, we evaluate whether there is an operational risk management system which also includes supply chain risk assessments, evaluations regarding the functioning of the compliance system, evaluations regarding the internal control and communication system, assessment of customer acceptance policies in the frame of supply chain risk assessments, and evaluation of customer acceptance policies within the framework of the customer recognition system (KYC-Know Your Customer).