As a result, the activities of the internal auditors of public limited companies subject to independent audit automatically end on 31.03.2013 and companies must elect an independent auditor from that date. 4. Protection of shareholders` interests: When accounts are audited by an independent and qualified auditor, the interests of shareholders and third parties are protected and protected against fraud by directors, project promoters or managers. (A) Articles of Association: The Articles of Association constitute the basic document of the company. The auditor does not have a lien on the books he audits, but if he has also worked as an accountant for which he is not paid, he can exercise his privilege. Introduction Joint stock companies and Turkish regulationsAudit requirements for joint-stock companiesAudit and draft commercial codeNew audit systemAudit: internal and externalNote Art. Article 397(4) of the Charges Code does not state that not all public limited companies are subject to an independent audit but to an independent audit. 6. The statutory auditor or statutory auditor of the company shall be liable both to shareholders and to third parties. (b) Articles of Association: The Articles of Association govern the rules and regulations of the internal management of the Company.
The auditor shall verify the following information in the articles of association: The audit is carried out both internally and externally. The external audit is mainly carried out by the Ministry of Industry and Trade. The tax office also has full authority to audit the company`s accounts. The objective of this audit is to protect the public economic order. As an additional control mechanism, Article 438 of the Companies Code allows shareholders of public limited companies to request a special audit. In this regard, each shareholder is entitled to request a special audit of the General Meeting of the Company to clarify certain issues and in the presence of certain circumstances. In this article, we will explain the concept of the special audit mechanism in public limited companies in the light of the relevant ICC articles. According to the old Commercial Code, an internal audit committee is one of the organs of a company. According to the new draft code, an audit committee is no longer considered an organ of a company. The draft Code takes a reformist and unifying approach that instructs all types of companies to use external auditors and to be audited by appropriate, professional and independent auditors who comply with international accounting standards and act with due diligence. if the General Assembly approves the request for a special audit; the Company or any shareholder (not only the shareholder who requested the audit) may request the Commercial Court of First Instance to appoint a special auditor within 30 (thirty) days. In this case, the costs of the auditor will be borne by the company.
If the annual accounts and the annual activity report of the Management Board have been amended after the submission of the audit report and these amendments are likely to affect the audit reports, the annual accounts and the annual activity report of the Management Board shall be subject to a new audit. The review and its results are explained separately in the report. The early dissolution of the company is carried out by resolution of a notarized general meeting or in the event of one of the grounds for liquidation established by law, such as the expiry of the term, the achievement of the declared objective of the company or the impossibility of achieving it, the impossibility of creating the company, or the continued inactivity of shareholders or the reduction of the capital below the legal minimum. (d) List of books: the statutory auditor must request the company to provide a list of all books, statistical books and statutory books kept by the company. Important books are kept at the company`s headquarters. For its articles of association, it requires a minimum capital of €50,000, of which at least 25% of the share capital (equivalent to €12,500) must be paid to the directors and which must be documented in the articles of association. For some companies, the law requires a higher minimum capital, depending on the characteristics of the business activity (e.g. investment firms, banks or finance companies).
It authorizes a company to carry out certain activities. Therefore, it is necessary for the statutory auditor to audit the scope and powers of the entity. The statutory auditor must have a comprehensive review of the statutes in the following respects: The audit report may only be signed by a person appointed as auditor.
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