The Audit Committee was established to oversee the operation of the Company’s accounting and reporting systems in line with applicable laws, rules and regulations, the public disclosure of financial information, and the effective functioning of the independent audit and internal control systems.
The Committee notifies the Board of Directors in writing of its evaluations on the factuality and accuracy of the annual and interim financial statements and their compliance with the Company’s accounting principles, considering the opinions of the Company’s management and independent auditors.
The Committee’s duties and responsibilities include:
• Conducting assessments for the selection of the independent audit company, making a recommendation and presentation to the Board of Directors;
• Evaluating compliance of financial statements and their footnotes to be disclosed to the public with legal and regulatory requirements and international reporting standards;
• Monitoring the operation and effectiveness of the Company’s accounting system, public announcement of financial information, independent audit, and the internal control system;
• Examining and finalizing complaints related to the Company’s accounting, internal control system, and independent audit.
The Audit Committee consists of at least two members who are elected from among Independent Board Members.
| AUDIT COMMITTEE | |
| Meliha Seyhan | Chairwoman |
| Hülya Kurt | Member |
| Bilgün Gürkan | Member |
| Mustafa Kemal Yılmaz | Member |
The Audit Committee convenes at least once every three months upon the invitation of the Chairman of the Committee. When deemed necessary, the managers, internal and independent auditors are also invited to the meeting to provide information.
The Committee may also decide to receive consultancy services from third parties outside of the Company. The Committee expenses are covered by the Board of Directors. The Audit Committee may notify specific issues to the Company’s General Assembly, if deemed necessary. In four meetings held during 2024, the Audit Committee received information about periodically conducted audit activities, decided whether to expand or narrow the scope of audit activities and made resolutions on amendments to the annual plan. The Committee also provided support to the Board of Directors during the selection of the independent audit firm
