IFRS & TFRS Reporting Services in Türkiye: Complete 2026 Guide

In today’s globalized economy, transparent and standardized financial reporting is no longer optional—it is a strategic necessity. Companies operating in Türkiye, especially those with foreign shareholders, international financing, or cross-border operations, must comply with International Financial Reporting Standards (IFRS) and Turkish Financial Reporting Standards (TFRS). At Akkas CPA & Turkish Accounting Firm, we provide comprehensive IFRS & TFRS reporting services in Türkiye, ensuring accuracy, compliance, and decision-useful financial information.

As a leading Istanbul accountant firm with multilingual capabilities since 2017, we support local and international businesses across industries with complex reporting requirements, evolving regulations, and stakeholder expectations.

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Understanding IFRS and TFRS in Türkiye

What Is IFRS?

IFRS are globally recognized accounting standards issued by the International Accounting Standards Board (IASB). They aim to ensure consistency, comparability, and transparency in financial statements across jurisdictions. IFRS is particularly critical for multinational corporations, subsidiaries of foreign groups, and companies seeking international investment or financing.

What Is TFRS?

TFRS are the Turkish adaptations of IFRS, issued by the Public Oversight, Accounting and Auditing Standards Authority (KGK). While largely aligned with IFRS, TFRS includes certain local interpretations and implementation guidance relevant to Türkiye’s regulatory and economic environment.

Companies subject to independent audit or operating under specific regulatory frameworks are required to prepare their statutory financial statements in accordance with TFRS.

Who Needs IFRS & TFRS Reporting in Türkiye?

IFRS and TFRS reporting obligations typically apply to:

• Joint-stock companies are subject to statutory audit
• Turkish subsidiaries of foreign parent companies
• Companies preparing consolidated financial statements
• Entities seeking foreign investment or loans
• Businesses planning IPOs or corporate restructuring
• Companies transitioning from local GAAP to IFRS/TFRS

As a trusted Turkish accounting firm, Akkas CPA & Turkish Accounting Firm helps organizations determine the applicable framework and implement it efficiently.

Key Differences Between Turkish Tax Accounting and IFRS/TFRS

One of the most common challenges businesses face in Türkiye is the distinction between tax-based accounting and financial reporting under IFRS/TFRS.

Turkish tax accounting primarily focuses on compliance with tax laws and regulations, while IFRS/TFRS emphasizes economic substance, fair value measurement, and accrual-based reporting. Key difference areas include:

• Revenue recognition
• Financial instruments and impairment
• Lease accounting (TFRS 16)
• Employee benefits and provisions
• Deferred tax accounting
• Foreign currency transactions

Bridging these differences requires expertise in both financial reporting and tax compliance, an area where our firm excels.

Our IFRS & TFRS Reporting Services

At Akkas CPA & Turkish Accounting Firm, we deliver end-to-end IFRS and TFRS solutions tailored to your business size, industry, and stakeholder requirements.

IFRS & TFRS Financial Statement Preparation

We prepare complete sets of financial statements in accordance with IFRS or TFRS, including:

• Statement of financial position
• Statement of profit or loss and other comprehensive income
• Statement of changes in equity
• Statement of cash flows
• Detailed footnotes and disclosures

All reports are prepared in line with KGK regulations and international best practices.

Conversion from Local GAAP to IFRS/TFRS

For companies transitioning from Turkish tax accounting to IFRS or TFRS, we manage the entire conversion process, including:

• Gap analysis
• Opening balance sheet adjustments
• Restatement of comparative periods
• Documentation of accounting policies

This service is particularly valuable for foreign-invested companies and groups preparing consolidated reports.

Consolidation and Group Reporting

We support multinational groups with Turkish subsidiaries by delivering accurate consolidation packages aligned with group reporting instructions, IFRS standards, and timelines.

Ongoing Advisory and Technical Support

IFRS and TFRS standards evolve constantly. We provide ongoing advisory services to address new standards, interpretations, and complex transactions such as mergers, acquisitions, or financial restructurings.

Integration with Tax and Regulatory Processes

Accurate IFRS/TFRS reporting does not exist in isolation. It must align with statutory obligations, audits, and strategic objectives.

Our services integrate seamlessly with:

• accounting services in Türkiye for day-to-day bookkeeping
• tax planning to manage deferred taxes and effective tax rates
• tax registration for newly established or foreign-owned entities
• audit services to ensure readiness for independent audits

This integrated approach minimizes risks, reduces compliance costs, and improves financial visibility.

Why IFRS & TFRS Reporting Matters for Decision-Making

Beyond compliance, IFRS and TFRS reporting provides management and stakeholders with high-quality financial information that supports:

• Strategic planning and budgeting
• Performance measurement
• Investor relations and transparency
• Creditworthiness and financing negotiations
• Corporate governance and risk management

Well-prepared IFRS/TFRS reports enhance credibility with investors, banks, and regulators, both in Türkiye and internationally.

Why Choose Akkas CPA & Turkish Accounting Firm?

Choosing the right advisor for IFRS and TFRS reporting is critical. Akkas CPA & Turkish Accounting Firm stands out due to:

• Established presence in Istanbul since 2017
• Multilingual service for international clients
• Deep expertise in IFRS, TFRS, and Turkish regulations
• Strong coordination between accounting, tax, and audit teams
• Practical, business-oriented approach

Our clients range from startups to large multinational groups, all benefiting from our precision, responsiveness, and strategic insight.

Common Challenges We Help You Overcome

Our clients frequently approach us with challenges such as:

• Inconsistent financial data between tax and IFRS reports
• Audit findings related to incorrect IFRS application
• Delays in group reporting deadlines
• Uncertainty around new or amended standards
• Lack of internal IFRS expertise

We address these issues proactively, ensuring compliance while adding measurable value to your financial operations.

IFRS & TFRS Reporting in Türkiye: Looking Ahead to 2026

As regulatory scrutiny increases and financial reporting standards continue to evolve, IFRS and TFRS compliance will become even more critical in 2026 and beyond. Companies that invest in robust reporting frameworks today will be better positioned to manage growth, attract investment, and navigate regulatory changes confidently.

Akkas CPA & Turkish Accounting Firm remains committed to supporting businesses in Türkiye with forward-looking, reliable, and compliant financial reporting solutions.

Contact us for IFRS & TFRS Reporting Services in Türkiye

At Akkas CPA & Turkish Accounting Firm, we’ve been delivering exceptional financial reporting services since 2017, helping businesses across Türkiye meet their IFRS and TFRS obligations with confidence. Our multilingual team of experienced professionals combines deep technical knowledge with practical industry experience, ensuring that your financial statements accurately reflect your business while fully complying with applicable standards.

If your company requires professional IFRS & TFRS reporting services in Türkiye, we invite you to contact Akkas CPA & Turkish Accounting Firm. Our experienced team in Istanbul is ready to support your financial reporting, compliance, and strategic objectives with precision and professionalism.