TÜSİAD organized a seminar titled "Audit Committee Practices in the Light of New Regulations" on June 11th, 2012, to review practical working practices of the auditing committees under the new Turkish Commercial Code and recently enacted Capital Markets Corporate Governance Principles.
Opening speeches of the seminar were delivered by Ms. Cansen Başaran Symes, Member of the Board of Directors of TÜSİAD and President of the Company Affairs Commission and Prof. Dr. Vedat Akgiray, Chairman of the Capital Markets Board of Turkey.
Ms. Cansen Başaran Symes indicated that TÜSİAD views competitive market economy as a structure to be regulated and she stated that market economy can bring the expected welfare to the society only if it is well regulated. Ms. Başaran Symes added that in the context of corporate governance, the new Turkish Commercial Code is the fundamental document on the obligation of the corporation towards the society.
Mr. Tayfun Bayazıt, Member of the Board of Directors of TÜSİAD spoke as a guest speaker on the auditing committees in the financial sector. The seminar continued with the presentation of the report “Auditing Committees, with examples in practice, from A to Z” prepared by Internal Auditing Sub-Working Group of TÜSİAD. The report was presented by Mr. Ali Kamil Uzun, Head of the Internal Auditing Sub-Working Group of TÜSİAD. Following the presentation of the report, Dr. Murat Doğu, President of the Corporate Governance Commission of TÜSİAD evaluated implications of the report for the private sector.
The seminar program included a panel discussion on the “Expectation from an Effective Auditing Committee” moderated by Mr. Şerif Kaynar, Istanbul Office Managing Director of Korn/Ferry International. Mr. Erdal Aksoy, Chairman of the Board of Directors of TURCAS Petrol, Mr. Yılmaz Gökoğlu, Vice President of the Yaşar Holding, Ms. Özlem Aykaç, President of the of Turkish Institute of Internal Auditing (TİDE) and Internal Auditing Director of Coca Cola İçecek, and Mr. Sedat Eratalar, President of the Auditing Committee of Borusan Holding participated in the panel and evaluated aspects of the issue from the viewpoints of different management levels.
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