Independent Audit

As ADANIR AUDIT, we provide services to numerous clients across various sectors and industries, establishing ourselves as one of the leading audit firms in the Turkish Republic of Northern Cyprus (TRNC). Our services include independent audits of banking and financial institutions subject to the Banking Law of the TRNC, as well as audits in accordance with International Financial Reporting Standards (IFRS) and the preparation of special-purpose audit reports. We categorize our audit services into three main areas: audit of financial statements, information systems audits, and compliance audits.

1) Audit of Financial Statements

Our services related to the audit of financial statements include providing opinions on compliance with the laws applicable to the banking sector under the TRNC Central Bank and with International Financial Reporting Standards (IFRS). The audit process is designed to ensure that the independent auditor can express an opinion on whether a company’s financial position and performance are presented fairly. This meticulous process involves several key steps: planning the audit, evaluating controls, conducting detailed tests, and finalizing reporting.

2) Compliance Services

We conduct detailed examinations and reporting on the compliance of companies operating in the TRNC, particularly in the banking and insurance sectors, with current laws and regulations. To create value for our clients and provide assurance to external stakeholders, we work in coordination with senior management to establish and implement a compliance program. Key regulations included in our service scope are the TRNC Banking Law No. 39/2001, the Policies (Amendment) Law, and the Insurance Services Law No. 60/2010.

The activities included in our service scope are:

• Compliance with legal requirements relevant to the sector
• Corporate governance and decision-making levels
• Effectiveness and efficiency of internal audit activities
• Compliance with tax legislation

3) Information Systems Risk Management (IRM)

ADANIR recognizes the technological risks that companies may face with the advancement of technology. We provide training and consulting services to our clients on topics such as ensuring healthy data flow through existing accounting programs and computer networks, auditing passwords and other security settings, and more. By establishing a secure and reliable computer network, companies can positively influence their decision-making process by accessing their financial data early and accurately. Additionally, we conduct audits based on COBIT, particularly for the banking sector as well as for insurance and other industries.