Transparency Report 2016

Transparency Report Year Ended 30 September 2016 Akis Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik Anonim Şirketi 31 January 2017 Contents 1 Message from the Senior Partner 4 2 Who we are 5 2.1 Our business 5 2.2 Our strategy 5 3 Our structure and governance 6 3.1 Legal structure 6 3.2 Name, Ownership and legal relationship 6 3.3 Responsibilities and obligations of member firms 6 3.4 Governance structure 7 4 System of quality control 9 4.1 Tone at the top 11 4.2 Association with the right clients 12 4.3 Clear standards and robust audit tools 14 4.4 Recruitment, development and assignment of appropriately qualified personnel 19 4.5 Commitment to technical excellence and quality service delivery 20 4.6 Performance of effective and efficient audits 22 4.7 Commitment to continuous improvement 26 2 Akis Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik AŞ Transparency Report 2016 5 Financial Information 30 6 Partner Remuneration 30 7 Network arrangements 31 7.1 Legal Structure 31 7.2 Responsibilities and obligations of member firms 31 7.3 Professional Indemnity Insurance 31 7.4 Governance structure 31 7.5 Area Quality & Risk Management Leaders 32 8 Statement by the Board of Akis on the effectiveness of quality controls and independence 33 Appendix 1. Akis Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik AŞ Ownership Structure 34 Appendix 2. Public-Interest Entities 35 Appendix 3. KPMG Values 38 Appendix 4. Details of those charged with governance at Akis 39 Akis Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik AŞ Transparency Report 2016 3 Message from the 1 Senior Partner Our values, beliefs, our joie-de-vivre and our Being aware of our story and pursuing it has points of interpreting life were determining the enhanced our integrity, strength and vitality. We shade, tone and color of our story. Our tools have managed to connect the different stages and methods, in other words our strategy, of our journey and “episodes” of our story to constituted the plot of our tale. The characters each other and sustain this appropriately without and heroes of the story were us: Those who slowing down the tempo or passing through realize themselves while working at KPMG repetitions. The part that we were to write/ Turkey, contribute to the enhancement of trust, experience had to be better than those written transparency and effectiveness of the business prior to us; but more importantly, it had to world with the services they provide to their contain reliable clues so that what was written customers and the institutional examples they after us would be more beautiful than what we try to generate and not only because they were writing with all its appeal. provide services in return but who are also We also express this, as our stakeholders appreciated and encouraged by their colleagues, knowing us hold out their hand to us trustingly families and friends in return… and call out to us regardless of what situation As our story unfolded, our reactions to events, they may be in. We move forward towards the paths we chose, our losses and gains; and our horizon by serving, winning hearts and enjoying testimonials of each other composed of our this journey of ours. We will continue to be joys, sorrows and tribulations bonded us to each a responsible community that instils trust in other in a manner that cannot be formulated. people, powers up the economy, generates As years passed by, we became aware that we transparency in society, but also knows how to were advancing the story in a brisk manner and smile at the same time, all this thanks to your bringing it to great and engaging junctions and support. our desire and passion was getting stronger to carry it to a holistic conclusion that we could tell Murat Alsan Chairman and Senior Partner and tell again. Throughout this document, “KPMG” (“we”,”our” and “us”) refers to Akis Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik Anonim Şirketi (“Akis”). KPMG is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (“KPMG International”). KPMG International, a Swiss entity, provides no client services. 4 Akis Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik AŞ Transparency Report 2016 2 Who we are 2.1 Our business Vision Akis Bağımsız Denetim ve Serbest Muhasebeci Mali The ClearChoice Müşavirlik Anonim Şirketi ( here in after “Akis” or “KPMG”) is a professional services firm that delivers Purpose Audit and Advisory services. We operate out of 3 InspireConfidence offices across Turkey and had an average of 664 personnel in the year to 30 September 2016 (2015: EmpowerChange 639). Strategy KPI’s Our audit services in Turkey are delivered through Akis. Full details of the services offered by KPMG Flagships Revenue Growth can be found on our website (https://home.kpmg. com/tr/en/home.html ). Boom In Leadership Capasity Communucation 2.2 Our strategy Wining leaders Increasing Global People Our vision is to be “the clear choice” in professional Survey Score services for our clients, for our people and for the Process oriented firm communities we work in Turkey. Our strategy is set by the Board and has remained consistent for some time. It has determined that our overall ambition Strategic Initiatives remains to be the number one multi-disciplinary professional services firm in Turkey. Audit Advisory Deal with Seasonality & Overtime Accelerate Growth through KPMG Turkey SGIs Mobilize for Rotation MC, IT, FS Value of Audit Project Integrated Advisory Rotation Program ©2015 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no servies to lients. o member firm has any athority to obliate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any sh 1 athority to obliate or bind any member firm. ll rihts reserved. Strategy Document Classification: KPMG Confidential KPMG Annual Report 2015 Akis Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik AŞ Transparency Report 2016 5 Our structure and 3 governance 3.1 Legal structure 3.3 Responsibilities Legal structure and ownership and obligations of Akis is affiliated with KPMG International, a Swiss cooperative which is a legal entity formed under member firms Swiss law. Further details about KPMG Under agreements with KPMG International, International and its business, including our member firms are required to comply with KPMG relationship with it, are available in the International’s policies and regulations including supplement to the KPMG International quality standards governing how they operate and Transparency Report. how they provide services to clients to compete KPMG International is a global network of effectively. This includes having a firm structure professional services firms providing Audit, Tax that ensures continuity and stability and being and Advisory services to a wide variety of public able to adopt global strategies, share resources and private sector organizations. KPMG (incoming and outgoing), service multi-national International’s structure is designed to support clients, manage risk and deploy global consistency of service quality and adherence to methodologies and tools. agreed values wherever the member firms Each member firm takes responsibility for its operate. management and the quality of its work. As at 30 September 2016, Akis is wholly owned Member firms commit to a common set of KPMG by 14 shareholders who are set out in Appendix 1. values (see Appendix 3). KPMG International’s activities are funded by amounts paid by member firms. The basis for 3.2 Name, Ownership calculating such amounts is approved by the Global Board and consistently applied to the and legal relationship member firms. A firm’s status as a KPMG “KPMG” is the registered trademark of KPMG member firm and its participation in the KPMG International and is the name by which the network may be terminated if, among other member firms are commonly known. The rights things, it has not complied with the policies and of member firms to use the KPMG name and regulations set by KPMG International or any of marks are contained within agreements with its other obligations owed to KPMG International. KPMG International. Along with Akis which is the main member firm Member firms are generally locally owned and of KPMG International, Yetkin Yeminli Mali managed. Each member firm is responsible for its Müşavirlik A.Ş., Yetkin Serbest Muhasebeci ve own obligations and liabilities. KPMG Mali Müşavirlik A.Ş., KPMG Yönetim Danışmanlığı International and other member firms are not A.Ş and KPMG İş ve Yönetim Danışmanlığı A.Ş. responsible for a member firm’s obligations or operate as sublicensee firms of Akis. liabilities. Member firms may consist of more than one separate legal entity. If this is the case, each separate legal entity will be responsible only for its own obligations and liabilities, unless it has expressly agreed otherwise. 6 Akis Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik AŞ Transparency Report 2016 3.4 Governance structure Akis applies high standards of corporate governance. The Board The Senior Partner chairs the Board ensuring that the Board members receive accurate, timely and clear information and ensuring effective communication and relationships with the members at large. The principal governance and oversight body of Akis is the Board which provides leadership to the organisation and is responsible for our long term growth and sustainability, setting our strategy and overseeing its implementation, monitoring performance against our business plan and protecting and enhancing the KPMG brand. The Board consists of 3 members, including the Senior Partner, the Head of Quality & Risk Management and Head of Audit.

Load more