Insights

Accounting function plays a critical role in the governance and management of companies, particularly in the decision making process. You must have heard many stories of companies which went bankrupt due to accounting scandals or unlawful acts of accountants.

The Association of Certified Fraud Examiners (ACFE) published the results of its most recent global fraud survey in its highly anticipated 2016 Report to the Nations on Occupational Fraud and Abuse.

The Council of Ministers Decision No. 2016/8549 was published in the Official Gazette dated 19 March 2016 to be effective as of 1 January 2016 and the criteria regarding to the determination of Companies subject to independent audit have decreased.

I am not a football fan. However, when I heard Galatasaray was excluded from participating in the next UEFA club competition due to the failure to comply with the Financial Fair Play of UEFA, I just got alert. Because, the enforcement was nothing to do with “football” but “Financial Fair Play”. Therefore, I thought it is worth diving deeper.  

Turkey is one of the big decliners in the index in the last 4 years. Turkey is ranked 66th out of 168 countries in 2015. The Turkey’s ranking was 64th out of 175 countries in 2014 and 53rd out of 177 countries in 2013, 54th out of 176 countries in 2012.

Does business integrity have a cost indeed? If it costs to put integrity at the heart of our business and to do the right thing, is this cost worth the pain? I had the chance to attend various panels and meetings on corporate governance and institutionalization in various parts of Turkey...

Earnings management is the generic term given to accounting decisions that influence financial reporting outcomes. However, the term tends to be used pejoratively in the sense that it implies an attempt to misreport financial results. History is full of instances where management have used their financial reporting...