Accountancy profession in Turkey is regulated through the law No. 3568, “The Law of Independent Accountancy, Certified Public Accountancy, and Sworn-in Certified Public Accountancy”. It was enacted in 1989.

-The Law defines accounting and auditing as a profession and recognizes two qualifications of accounting and auditing professionals granted by the Union of Chambers of Certified Public Accountants (TÜRMOB): Certified Public Accountant (CPA, Serbest Muhasebeci Mali Müşavirler-SMMM) and Swornin Certified Public Accountant (Sworn-in CPAs, Yeminli Mali Müşavirler-YMM). Only accountants who have been awarded a license by TÜRMOB are entitled to render professional services.

-In distinguishing between the two titles, SMMMs may keep books, prepare financial statements, and conduct general audits, but cannot perform tax audits nor provide consulting services.