Never deviating from the principles of openness, accountability and transparency, Ekspo Faktoring ensures the reliability and integrity of its financial information via internal and external audits.
Ekspo Faktoring’s internal and external audit activities are conducted by competent and experienced teams in their fields. Internal Audit is performed by the Company’s Internal Audit and Financial Control Department while external audit is carried out by two independent audit companies that are among the best in their sector.
Flawlessly implementing the Internal Audit and Financial Control processes via its own specialized staff right from the very beginning, Ekspo Faktoring considers the execution of the Company’s activities in compliance with the Factoring Regulation as an integral part of its core financial and operational goals. The findings of the financial, operational and other audits that are conducted independently by the Internal Audit staff are evaluated by the Company’s management and related units. Improvements are made to Company strategies and business processes as needed. The Financial Control task performed each year by the Internal Audit and Financial Control Department consists of inspection of financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and Banking Regulation and Supervision Agency of Turkey (BRSA) guidelines, thorough generation and timely submittal of the Non-bank Financial Institutions Oversight System reports prepared for and submitted to the BRSA on a quarterly basis and confirming that these reports are added to the database.
The External Audit activity performed each year by two separate leading independent audit firms in the finance industry consists of auditing the Company’s financial and tax statements. Audit results are reported to the BRSA and the Ministry of Finance within the legally stipulated timelines; Independent Audit Reports, prepared in two formats (IFRS and BRSA), are made available to the Company’s stakeholders every year.