Interest-Free Finance Accounting Standard T1 Published by POA
With the decision of the Public Oversight Accounting and Auditing Standards Board dated 17/03/2022, “Interest-Free Finance Accounting Standard T1: General Presentation and Disclosure Standard in the Financial Statements of Insurance and Private Pension Companies Operating on Participation Basis” was published in the Official Gazette dated 19.03.2022 and numbered 31783.
The Resolution aims to set out the general principles for the presentation of financial statements of companies operating in accordance with the principles of participation and the legislation to which they are subject, and to determine the minimum requirements for financial statements together with the relevant explanations. The standard is effective for annual periods beginning on or after January 1, 2023, with earlier application permitted.
You can access the Board decision published by the Public Oversight Accounting and Auditing Standards Authority and the “Interest-Free Finance Accounting Standard T1” here.
