Audit Committee
The Audit Committee of Tekfen Holding has been established in accordance
with the Capital Market Regulations. Hamit Sedat Eratalar, Çağrı Bağcıoğlu, and
Ayşe Selen Kocabaş 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.