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ARTICLE · 29 JANUARY 2024

Turkish Sustainability Reporting Era Has Begun!

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With an amendment to Article 88 of the Turkish Commercial Code in 2022, the Public Oversight, Accounting and Auditing Standards Authority (the "POA")...

TurkeyCorporate/Commercial Law

With an amendment to Article 88 of the Turkish Commercial Code in 2022, the Public Oversight, Accounting and Auditing Standards Authority (the “POA”) was assigned to determine the Turkish Sustainability Reporting Standards (TSRS) in accordance with international practices. Following the relevant amendment, the Board Decision of the POA on the Scope of Implementation of TSRS was published in the Official Gazette dated 27 December 2023 and numbered 32414, and entered into force on 1 January 2024. The sustainability reporting was made mandatory for the following institutions, organisations and businesses which fall within the scope of the decision.

Entities within the Scope

  • Other than the banks under control of the Savings Deposit Insurance Fund, the banks are subject to the reporting requirement without being subject to any threshold.

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