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With the amendment published in the Official Gazette dated 17 March 2026, the criteria for being subject to independent audit have been substantially revised. In particular, the increase in financial thresholds and the direct inclusion of certain public entities within the scope are of particular importance. The regulation will be applicable as of the 2026 fiscal year.
Pursuant to the Decision Amending the Decision on the Determination of Companies Subject to Independent Audit (the “Amendment Decision”), published in the Official Gazette dated 17 March 2026 and numbered 33199, various amendments have been introduced to the Decision No. 6434 on the Determination of Companies Subject to Independent Audit (the “Decision”), originally published in the Official Gazette dated 30 November 2022 and numbered 32029.
The principal amendments are summarized below:
| Thresholds prior to the amendment:
Companies exceeding at least two of the following thresholds for two consecutive fiscal periods are subject to independent audit: a) Total assets of TRY 300 million or more, |
New thresholds under the Amendment Decision:
Companies exceeding at least two of the following thresholds for two consecutive fiscal periods are subject to independent audit: a) Total assets of TRY 500 million or more, c) Number of employees of 150 or more. |
I) Update to the Criteria for Being Subject to Independent Audit
Except for (i) companies listed under Annex (I) and Annex (II) of the Decision, and (ii) companies whose capital market instruments are not traded on an exchange or other organized markets but are deemed to be publicly held pursuant to the Capital Markets Law No. 6362, the criteria for companies to be subject to independent audit have been redefined as follows
II) Inclusion of State-Owned Enterprises and Certain Companies within Scope
State Economic Enterprises (SEEs) and their subsidiaries operating within the scope of Decree Law No. 233 dated 8 June 1984 on State Economic Enterprises, as well as companies established domestically within the scope of Additional Article 1 of the Natural Gas Market Law No. 4646 dated 18 April 2001, in which SEEs directly or indirectly hold more than 50% of the share capital, have been included in Annex (I) of the Decision.
Accordingly, such companies will be subject to independent audit as of the 2026 fiscal period, irrespective of any other criteria.
III) Entry into Force
The Amendment Decision entered into force on its publication date and shall apply to fiscal periods commencing on or after 1 January 2026.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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