Turkic states plan to simplify cross-border provision of audit services – EXCLUSIVE

As part of efforts to strengthen cooperation, Turkic countries plan to establish legal and institutional mechanisms enabling collaboration among independent auditors across the Turkic world, Hayrettin Kurt, Chairman of the Public Oversight, Accounting and Auditing Standards Authority of Türkiye (KGK), told Report.

According to him, globalization and the expansion of companies into international markets have created a growing need for the cross-border provision of professional services.

"Our initial goal is to develop mechanisms that will allow independent auditors to operate in Turkic countries on the basis of reciprocity. We believe that the necessary conditions for this have already matured," Hayrettin Kurt said.

In his view, the establishment of the Union of Accountants and Independent Auditors of Turkic States will become a key instrument for this cooperation. The initiative also envisages the introduction of unified reporting standards and enhanced cooperation in the preparation of financial statements.

"Work on the founding documents of the Union has already made significant progress, and the first concrete steps are expected to be taken as early as September this year. Strengthening the auditing institution directly contributes to increasing countries' investment attractiveness and improving the business climate. The creation of the Union will not only enhance the international standing of the auditing profession but will also provide a powerful impetus for economic integration among Turkic states," Kurt emphasized.