The Presidential Decree No. 9774, published in the Official Gazette dated May 1, 2025 and numbered 32887, introduced significant changes to the Decision on the Determination of Companies Subject to Independent Audit dated November 29, 2022 and numbered 6434 (the “Decision”). Pursuant to this amendment, the financial thresholds for determining the independent audit obligation of companies have been redefined.

1. New Thresholds for Companies Listed in Annex (II) of the Decision:

    Companies listed in Annex (II) that exceed at least two of the following thresholds for two consecutive fiscal years shall be subject to independent audit:

    CriterionPrevious ThresholdNew Threshold
    Total AssetsTRY 60 millionTRY 120 million
    Annual Net Sales RevenueTRY 80 millionTRY 150 million
    Number of Employees100100

    2. New Thresholds for Companies Other Than Those Specified in Subparagraphs (1) and (2) of Article 3 of the Decision:

    Companies falling within this scope (i.e., companies that are generally subject to independent audit) that exceed at least two of the following thresholds for two consecutive fiscal years shall be subject to independent audit:

    CriterionPrevious ThresholdNew Threshold
    Total AssetsTRY 150 millionTRY 300 million
    Annual Net Sales RevenueTRY 300 millionTRY 600 million
    Number of Employees150150

    3. Effective Date

    The aforementioned amendments entered into force on their publication date and shall apply for the purpose of determining whether companies are subject to audit for fiscal years beginning on or after January 1, 2025.

    Eren Üçok
    Partner | [email protected]
    Durukal Taş
    Senior Associate | [email protected]