INDEPENDENT AUDIT THRESHOLDS UPDATED

ARTICLE 1 – Subparagraph (3) of paragraph (b) of the first paragraph of Article 3 of the Decision enacted by the Presidential Decision dated 29/11/2022 and numbered 6434 has been amended as follows:

     3) New threshold values for companies that do not fall under the scope of those specified in subparagraphs (1) and (2):

           i) Total assets: 500 million Turkish Liras.

           ii) Annual net sales revenue: 1 billion Turkish Liras.

           iii) Number of employees: 150 employees.

ARTICLE 2 – Row 9 of List (I) annexed to the same Decision has been amended as follows:

• "9) State Economic Enterprises (SEEs) operating within the scope of the Decree-Law on State Economic Enterprises dated 8/6/1984 and numbered 233, and their subsidiaries, as well as companies established domestically within the scope of Additional Article 1 of the Natural Gas Market Law dated 18/04/2001 and numbered 4646, of which more than 50% of the capital is directly or indirectly owned by SEEs."

ARTICLE 3 – This Decision shall enter into force on the date of its publication, to be taken as a basis in determining the status of companies being subject to audit in accounting periods beginning on or after 1/1/2026.

ARTICLE 4 – The President of the Republic shall execute the provisions of this Decision.

Yours sincerely,

Official Gazette