Professional Practice Section

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As the nature of transactions and the underlying accounting rules and regulations become increasingly complex, internal teams may not be able to fully assess accounting and financial reporting implications. Recent regulatory developments on financial reporting also increase the complexity in this area. Multinational companies operating in foreign jurisdictions need to be aware of GAAP differences while reporting.

Each Professional Standards team member at ICS is well trained, skilled and dedicated to efficiently work on solving your accounting and business challenges. We design, implement and introduce the financial and accounting processes in compliance with issued professional standards which help our clients improve their performance.

Our scope of expertise includes the following areas:

• Turkish accounting and audit laws
• Turkish GAAP and auditing standards
• International accounting standards and international financial reporting standards (IAS/IFRS)
• US GAAP, FASB and US Financial Reporting Standards including Yellow Book and Not-For-Profit Audits
• US Sarbanes-Oxley Act and related audits
• US Foreign Corrupt Practices Act and related audits
• Anti-Money Laundering and Sanctions Consulting
• Double Taxation Treaties and their applications