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ARTICLE · 08 MARCH 2017

Financial Reporting Principles Of Mutual Funds

Erdem & Erdem Law
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Mutual funds are obliged to prepare various reports and tables in order to fulfill their financial reporting obligations.

TurkeyFinance and Banking
Selen Ozturk
Selen Ozturk
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Introduction

The financial reporting principles of mutual funds are regulated under the Communique on the Financial Reporting Principles of Mutual Funds (II-14.2) ("Communique")1 . The Communique determines the principles, procedures and basis regarding the preparation of financial reports. While the Communique sets forth the requirements that mutual funds have to abide by, it does not cover foreign mutual funds and, thus, foreign mutual funds are not obliged to abide by any principle pursuant to the Communique. The financial reporting obligations of foreign mutual funds are limited to the country legislation under which the mutual funds are bound. This month's newsletter article examines the financial reporting principles as specified under the Communique. This newsletter article will not examine the distinct principles regarding umbrella funds and real estate mutual funds.

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