TFRS Transition Advisory for SMEs
The adoption of Turkish Financial Reporting Standards (TFRS) — aligned with International Financial Reporting Standards (IFRS) — represents a significant shift in how companies present their financial position. For small and medium-sized enterprises, this transition can be both technically demanding and operationally disruptive. We guide your business through the entire process.
- Gap Analysis: Assessment of your current accounting practices against TFRS requirements to identify the areas requiring the most attention.
- Transition Roadmap: Development of a structured, phased plan for migrating your financial reporting framework to TFRS compliance.
- Opening Balance Sheet Preparation: Preparation of your TFRS-compliant opening balance sheet as the foundation for restated comparative financials.
- Staff Training & Capacity Building: Practical training for your finance team on TFRS principles, key differences from the previous framework, and new disclosure requirements.
- Ongoing Compliance Support: Continued advisory during and after the transition period to address emerging issues and ensure sustained compliance.
- Coordination with Auditors: Liaison with your external auditors to align on transition approach and ensure smooth audit processes under the new standards.
For SMEs with growth ambitions — whether seeking investment, expanding internationally, or preparing for M&A — TFRS-compliant financials signal credibility and transparency to every stakeholder.
