Post Merger & Acquisition Accounting, Finance and Reporting Support

Fikret Sebilcioğlu
  • Fikret Sebilcioğlu          CFE, CPA, TRACE Anti-Bribery Specialist         
  • Managing Partner
  • E-mail to Fikret

Just after your merger or acquisition of a subsidiary in Turkey or set up a joint venture with Turkish partners, do not get surprised that you may find it rather difficult to allign accounting and finance fuction with your HQ's policies and procedures. Do you need a local presence in Turkey to handle these challenges? 

Most of the time Turkish family-owned businesses have become an attractive target for foreign investors. And, again most of these family owned Turkish companies are managed by the family members. There are many family-owned Turkish companies that have a reasonable level of corporate structure but the ones that lack such an advantage may have the following characteristics:

  • Low level of corporate governance,
  • Quick decision-making process based on experience rather than data,
  • Management style based on individuals rather than functional organization charts,
  • Lack of internal control mechanisms, and
  • Lack of accurate and timely financial and non-financial data.

After your merge of such a family-owned company, you may need to find transitory solutions to these challenges while you finalize the business process integration including accounting and finance function in your new subsidiary.

How Cerebra can help

Cerebra has expertise in the following areas to manage accounting and finance issues of your Turkish subsidiary:

  • Ensure transactional recording, and monthly accounting and closing processes are aligned with your policies and procedures,
  • Consolidate monthly, quarterly, and other periodic reporting processes and eliminate redundancies,
  • Create new budgets and forecasts,
  • Conduct operational and financial analyses significant for your new subsidiary, and 
  • Ensure internal staff has comprehensive understanding of go-forward requirements and any anticipated cultural shifts that will impact their individual roles and tasks.