Audit Committee
The Audit Committee of Tekfen Holding has been established in accordance with the Capital Market Regulations. Independent Board Members Sedat Eratalar and Şevki Acuner have been assigned by the Board of Directors, as the Committee members.
According to the Capital Market Regulations;
The Committee oversees the functioning and effectiveness of the Company's accounting system, public disclosure of financial data, independent audit and internal control system. The selection of the independent audit body, the development of independent audit contracts and the initiation of the independent audit process and the work of the independent audit at every stage is carried out under the supervision of the Committee.
The independent audit firm from which the Company will receive services and the services to be rendered by this firm will be determined by the Committee and submitted to the Board of Directors for approval.
The independent audit firm submits to the Committee in writing, important issues concerning the Company accounting policy and practices; alternative practices and public disclosure options within the framework of international accounting standards conveyed earlier to the Company management; their probable consequences and implementation recommendations as well as important correspondence with the Company management.
The Committee reviews and takes action on complaints lodged by shareholders and stakeholders regarding the Company financial tables, internal control system, independent audit system or Company activities. It is the Committee's duty to put in place the necessary mechanisms for the conveyance of such complaints to the Committee and their evaluation.
The Committee audits compliance with the existing legislation and international accounting standards of the periodic financial tables and footnotes to be disclosed to the public, and following input from the officers of the Company responsible for these, sends a report to the Board of Directors.
The Committee may resort to independent experts' opinions on issues it deems necessary based on its area of operations. The cost of the consulting services required by the Committee which is responsible for oversight is met by the Company.
The Committee meets at least four times a year and at least every three months. Decisions taken at Committee meetings are put in writing, signed by the Committee members and filed and maintained regularly. The Committee submits in a report to the Board of Directors any observations and recommendations regarding its own area of responsibility.
The responsibility of the Committee does not revoke that of the Board of Directors emanating from the Turkish Commercial Code.