AT KKB, POLICIES WHICH REDUCE FINANCIAL RISKS AND INCREASE THE CREDIBILITY OF THE COMPANY ARE DETERMINED AND FOLLOWED.

The Financial Reporting and Financial Affairs Department is responsible for the planning of financial activity and monitoring and systematically recording the results of activities in order to fulfill the obligations and reporting regarding financial activities in a timely and accurate manner. In fulfilling these responsibilities, the Department takes into consideration the strategic goals of the institution, legal regulations and the public interest.

The main activities of the department include the following;

• Monitoring and fulfilling tax obligations,
• Optimization of cash flow,
• Preparing reports requested by the Senior Management,
• Provision of necessary information, documents and reports in accordance with the regulations of the relevant public authorities,
• Promptly providing all kinds of support within the framework of the legislation in order to ensure that the operational units concentrate fully on their own fields of expertise and maximize their efficiency.

Financial Affairs Management Unit

In the 2021 activity period, the Financial Affairs Management Unit successfully carried out accounting and finance operations in line with the procedures and principles regarding accounting standards.

In this context;

• In addition to the preparation of financial reports in line with the regulations of public authorities and their submission to the relevant units and the public, tax obligations were met fully and on time.
• Policies which reduce financial risks and increase the credibility of the company were determined and followed.
• Cash flow plans were created in order to evaluate the cash inflows in a manner which would provide optimal returns.
• Legislative changes regarding financial activities were followed and necessary amendments were made.
• In order to ensure efficient use of resources and planning, the relevant departments were informed of the follow-up procedures and the status of the collections.
• Maintenance and repair expenses of assets owned by the institution, expenses undertaken for various projects, insurance expenses for the protection of assets, service production expenses and general administrative expenses and financial liabilities arising from legal obligations were checked and paid in accordance with the legislation.
• Transactions subject to the R&D project expenditures of the institution and the financial liabilities arising from the laws were checked and recorded in accordance with the legislation.
• All correspondence and application processes regarding the incentive applications of the institution were carried out and the process was followed up.
• As a company subject to BRSA regulations, support was extended to all legal reporting and independent external audits required to be carried out in accordance with Turkish Accounting and Financial Reporting Standards.
• All requests for opinions received from the institution were responded to within the framework of tax legislation.