The Full Certification Report, also known as the Corporate / Income Tax Declaration and its annexes, is the statement that reports the Company’s financial data by the certified public accountants. CPA reports that the declaration is presented in a way that reflects the accounts’ the truth. The purpose of the Full Certification Report is to ensure that taxes and other payments are paid properly. Also, the report is to ensure exceptions to which the company benefits are applied properly. The report is written for the annual income or corporate tax. That is, each report includes a 1-year period (eg: 01.01.2019-31.12.2019). A full certification report is not required by law, but it may postpone the examination of companies by Group A auditors or prevent them from being reviewed.
Full Certification Report is prepared by CPAs. There is a requirement for the companies to be prepared by the CPAs in the reports of high level of importance submitted to public institutions. The reason for this; CPAs are more reliable and responsible than other professional groups. CPAs are jointly responsible for the reports they prepare. If there are cases such as liquidation, merger and transfer declaration, such declarations may be submitted as an attachment to the Fully Certified Report by the CPA.
Within the scope of the Report CPA who undertakes the duty and makes an agreement is authorized to audit all transactions that may be related to the company’s tax. The CPA shall notify the Company’s management in writing of any such misconduct. If necessary, the correction is applied within the reporting period (eg, the issuance of the Declaration of Error after the declaration is given). Regardless of its applicability, the case is indicated in the report prepared by the CPA.
Since the company that has the report will obtain CPA approval, the declarations should not be signed by independent accountants or financial advisers. If the report exceeds one of the limits, full certification becomes mandatory. According to the General Communiqué on the Law No. 3568 on Independent Accountancy and Certified Public Accountancy, the limits was determined according to the year as follows: (For related communiqué: see )
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