The Financial Control Department within the structure of ENKA is responsible for establishing and executing internal controls over the company’s accounting and financial procedures, maintains a separation of duties with regards to accounting functions and detailed control and consolidation of the financial statements of more than 60 group companies and branches.
By taking the view of corporate governance, the department follows up the latest developments in International Financial Reporting Standards and in legal framework of Capital Markets Board of Turkey; simultaneously implements the changes to the consolidated report and provides accurate and comprehensive financial information to shareholders and executive management for long-term financial strategizing of the Company at all times. One of the main primary responsibility of the department also is to follow the projects from its tender phase as to how and where the Company’s permanent establishment in the project jurisdiction can be established and following the tender phase effectively controls and audits the accounting, finance and cost figures of each projects and effectively takes any precautions if there is any discrepancy from the established control points in each process.
The department also follows up all tax regulations in countries within that the group operates, and effectively manage projects and entities operations to be in line with each countries tax legislation. Within the context of the increased tax sensitivity of OECD countries, keeping the group in a riskless position in tax matters by coordinating this process with the external tax advisors and keeping company records organized and readily available for inspection is one of the priorities of our team.