Expanded use of IFRS-compliant standards in Turkey

22 January 2016

In 2011, the Public Oversight, Accounting and Auditing Standards Authority (POA) became the accounting standard-setter in Turkey. The POA issues Turkish Financial Reporting Standards (TFRS) that are in full compliance with IFRS Standards and determines the application scope of those standards.

We have updated our profile on the use of IFRS Standards in Turkey to reflect the POA's latest regulation regarding use of those standards.

The following entities are required to use TFRS in their consolidated and separate company financial statements:

We have accordingly updated our website profile on the use of IFRS Standards in Turkey. You can find this profile and those of other jurisdictions here.

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