The transparency report covers the audit firm's legal and ownership structure, the network it belongs to, its quality control system, its most recent quality assurance inspection, the public interest entities it audits and the breakdown of its revenue.
The report is published on the firm's website and is an important indicator of confidence in audit quality.
Related terms
Public interest entityEntities considered to be of public interest because of their business, size or number of stakeholders, and subject to stricter audit rules.Public Oversight Authority (POA)The public authority in Turkey that sets accounting and auditing standards and authorises and oversees independent auditors and audit firms.Auditor independenceThe auditor being free of relationships and interests that could affect their objectivity, and being perceived as such by third parties.Adverse opinionThe opinion in which the auditor states that the financial statements are not presented fairly, where misstatements are both material and pervasive.Agreed-upon proceduresAn engagement in which the practitioner performs procedures agreed with the entity and, where relevant, a third party, and reports only the findings without providing assurance.Analytical proceduresThe evaluation of financial information through analysis of plausible relationships among financial and non-financial data.
Last updated: October 22, 2026 · This definition is for general information only.