Union of Chambers of Certified Public Accountants of Turkey
Member | Established: 1989 | Member since 1994
Union of Chambers of Certified Public Accountants of Turkey (TÜRMOB) was founded in 1989 based on Law 3658 of Certified Public Accountancy (CPA) and Sworn-in CPA of 1989. TÜRMOB is the national umbrella organization for the 81 local chambers of CPAs (SMMMs) and Chambers of Sworn-in CPAs (YMMs). The Union is empowered to award professional licenses, which Turkey’s accountants must have to render professional services. TÜRMOB membership is comprised of CPAs, who are authorized to conduct financial audits, and Sworn-In CPAs, who are allowed to conduct financial and tax audits. Both the SMMM and YMM designations are protected under Law 3658. The Union’s mandate includes performing activities related to the development of the profession; protecting the interest of the profession and ensuring that its members uphold ethical standards; representing members of the profession; preparing relevant regulations to enable the Union to fulfill its duties; and representing the profession nationally and internationally.
Statements of Membership Obligation (SMO)
The Statements of Membership Obligations form the basis of the IFAC Member Compliance Program. They serve as a framework for credible and high-quality professional accountancy organizations focused on serving the public interest by adopting, or otherwise incorporating, and supporting implementation of international standards and maintaining adequate enforcement mechanisms to ensure the professional behavior of their individual members.
SMO 1: Quality Assurance
Since 2011, TÜRMOB, which shares responsibility for the establishment of a quality assurance (QA) review system in Turkey, has undertaken a number of activities geared toward the establishment of the QA review system for its members. These activities include: (i) establishment of a Quality Assurance Center to spearhead the development of the system; (ii) recruitment and training of potential QA reviewers; and (iii) preparation of QA questionnaires that audit firms will have to complete. TÜRMOB, with support from the Expert Accountants Association of Turkey, is in the process of developing a QA Control Working Program and determining pilot firms that are to be reviewed during the expected launch of its QA review system in 2015, originally planned for 2014. The Union has also planned a series of learning events, scheduled for the latter half of 2015, to support implementation of the system, and has included related topics in its initial professional development and continuing professional development (CPD) programs.
TÜRMOB is encouraged to collaborate with the Public Oversight, Accounting and Auditing Standards Authority (KGK) to ensure that there are no overlaps between the system to be established by TÜRMOB and that of the KGK, and to ensure that the resulting system complies with the requirements of SMO 1. The Union should also ensure that QA-related topics are included in the CPD curriculum and should consider assisting firms with implementing and maintaining appropriate systems of quality control.
SMO 2: International Education Standards
TÜRMOB shares responsibility for initial professional development and continuing professional development (CPD) in Turkey, and reports that it supports the convergence with IES through continuous monitoring of new and revised pronouncements issued by the IAESB and incorporation of changes to its examination and education requirements where necessary. Through this process, the requirements of IES 8 were incorporated and CPD courses are being updated accordingly.
TÜRMOB supports the implementation of IES with the operation of its Education and Training Center. To fully comply with SMO 2, since 2012, TÜRMOB’s main focus has been on the development and operation of a CPD system that is aligned with IES 7. It established a CPD Center and, with the Expert Accountants Association of Turkey (EAAT), prepared plans for a draft CPD system in 2013. While awaiting approval from the Ministry of Finance, TÜRMOB has partially implemented the CPD system. The Union has developed a software program to monitor members’ compliance with CPD requirements, and has instituted disciplinary sanctions for non-compliance.
TÜRMOB states in its 2015 SMO Action Plan Update that it participates in the international standard-setting process by providing comments on Exposure Drafts issued by the IAESB.
TÜRMOB is encouraged to review the national requirements for the education of professional accountants against those of IES and share the findings with IFAC’s Quality and Membership staff. TÜRMOB is also encouraged to collaborate with the Public Oversight, Accounting and Auditing Standards Authority and other stakeholders to promote the IES requirements and ensure that they are incorporated in Turkey on an ongoing basis. Facilitating the translation of IES into Turkish to further support the adoption and implementation process would also be beneficial.
SMO 3: International Standards on Auditing
Until 2011, TÜRMOB had the authority to set auditing standards in Turkey. While the authority now rests with the Public Oversight, Accounting and Auditing Standards Authority (KGK), TÜRMOB continues to participate in the process by translating standards issued by the IAASB and making them publicly available to the profession. To raise awareness of the standards, the Union also collaborates with academics to prepare and publish articles on ISA and related topics. In addition, TÜRMOB monitors new and revised IAASB pronouncements and disseminates the updates to the public. The Union also supports implementation of the standards through the education program that its Education and Training Center offers. The Center periodically updates the initial professional development and continuing professional development curricula to incorporate requirements of revised ISA.
TÜRMOB is encouraged to continue supporting the KGK in adopting ISA on an ongoing basis, ensuring that the ISA requirements are adopted in full, with minimal modifications.
SMO 4: Code of Ethics for Professional Accountants
TÜRMOB, which shares responsibility for professional ethics standards for members of the accountancy profession in Turkey, maintains an ongoing process to adopt, translate, and publish the latest versions of the IESBA Code of Ethics for application by its members.
TÜRMOB raises members’ awareness and supports compliance with the Code of Ethics through (i) the publication of articles on ethics in TÜRMOB publications; (ii) the design and delivery of a number of learning events, such as an annual Ethics Congress, and the training of ethics trainers in different locations in the country; and (iii) updates of the education, examination, and training curricula to incorporate any revisions to the IESBA Code of Ethics. TÜRMOB also supports member participation in the international standard-setting process by soliciting comments on IESBA Exposure Drafts.
TÜRMOB is encouraged to share information on how it collaborates with the public oversight body, which has responsibility for determining ethics standards for the audit profession, and clarify the roles of professional bodies and the Public Oversight, Accounting and Auditing Standards Authority in this respect.
SMO 5: International Public Sector Accounting Standards
TÜRMOB has no direct responsibility for the adoption of IPSAS in Turkey and states that it supports the Public Accounting Standards Board of Turkey (DMSK) in the convergence process by encouraging the DMSK to participate in the international standard-setting process and to maintain an ongoing process to translate IPSAS into Turkish. TÜRMOB intends to publish books and articles on IPSAS to raise awareness of the importance of adopting the standards.
TÜRMOB is encouraged to inform IFAC’s Q&M staff about whether it has considered establishing a plan to support the government in its convergence with IPSAS. Possible actions may include liaising with the standard setter on a periodic basis; providing updates on new and revised standards; including IPSAS-related-topics in the course offerings of its Education and Training Center; and delivering learning events (seminars, workshops) on IPSAS.
SMO 6: Investigation and Discipline
TÜRMOB shares responsibility for the investigative and disciplinary (I&D) system for members of the accountancy profession. It has an operational system in place that, according to TÜRMOB, incorporates the revised SMO 6 requirements.
TÜRMOB states in its 2015 SMO Action Plan that it uses its best endeavors to maintain compliance on an ongoing basis. It delivers learning events to raise member and public awareness of I&D requirements through workshops and publication of articles. It also supports academic studies on matters related to discipline.
SMO 7: International Financial Reporting Standards
TÜRMOB does not have direct responsibility for the adoption of IFRS but it does support the implementation of IFRS, which have been adopted for financial statement preparation in Turkey. TÜRMOB is involved in the process of translating IFRS in accordance with the IFAC Translation Policy. It also participates in the international standard-setting process by providing comments on Exposure Drafts issued by the IASB.
TÜRMOB supports its members with the application of accounting standards by updating the education, examination, and training curricula to incorporate new and revised Turkish Financial Reporting Standards and providing training to members through initial professional development and continuing professional development programs. The Union collaborates with academics to publish articles and other material on international accounting standards in TÜRMOB publications and on its website.
IFAC bears no responsibility for the information provided in the SMO Action Plans prepared by IFAC member organizations. Please see our full Disclaimer for additional information.