The Institute for Internal Controls’ Turkey chapter was established on 21st of July, 2017. Chapter’s aim is to create awareness about maintaining efficiency and productivity in internal control processes of all institutions, both in public and private sector. Chapter’s another goal is to create internal control consciousness in institutions with the help of knowledge to be created along with certification services through expert staff and various educational fields in Turkey.
We will cooperate with our stakeholders to change the perspective from seeing internal control as a burden, to a tool that helps to prevent the losses in case of unexpected events and to seize the opportunities for the sake of applying internal controls effectively. In addition, it is inevitable to establish an internal control system in every institution to maintain institutionalization and sustainable growth in micro & macro levels.
INTERNAL CONTROL REGULATIONS IN TURKEY
It is possible to evaluate the internal control regulations in Turkey under two categories. First category is concerned with evaluating internal controls with regard to publicly traded companies, Capital Markets Board (CMB) Corporate Governance Principles, legal regulations regarding the banking sector and Turkish Trade Act. Second category, on the other hand, is concerned with the internal control system that needs to be established in public institutions within the framework of 5018 numbered Public Financial Management and Control Law and the regulations which were constituted for the abovementioned goal.