In Turkey, under Law No. 3568, the boundaries of the professions of accounting, financial advisory, and sworn financial advisory are clearly defined. There are no hybrid titles such as “sworn certified” or “certified sworn”; the system is structured around two main license groups (SMMM and YMM) and dependent employees.
1. Accountants Employed in Companies (Dependent Accountant)
- Status: A directly salaried, contracted employee of a company. They work within the accounting department of the firm and retire from there.
- Function: Handles daily invoice entries, current account tracking, personnel payrolls, and internal operational accounting records of the company.
- Limitation: Unless they hold an SMMM (Certified Public Accountant / Financial Advisor) license, they cannot submit the official tax returns of the company to the state’s system under their own password and signature.
2. Certified Public Accountant / Financial Advisor (SMMM)
- Status: A licensed professional who has completed a mandatory 3-year internship following relevant undergraduate education and has successfully passed the SMMM proficiency exams.
- Working Structure: Can operate in two different ways:
- Independent (Serbest): Opens their own independent office and manages the accounting systems of multiple firms externally.
- Dependent (Bağımlı): Works as a salaried employee bound to a single company, acting as the accounting/finance director (CFO) or accounting manager with signature authority.
- Function: Keeps the books of companies, prepares financial statements (balance sheets, income statements), and organizes and approves tax returns.
3. Sworn Financial Advisor (YMM)
- Status: Top-tier experts who have worked as an SMMM for at least 10 years and subsequently passed the multi-stage YMM exams.
- Working Structure: They must work exclusively independently. It is legally prohibited for them to work as salaried employees under a company or to open an accounting office to perform daily bookkeeping or data entry.
- Function: Their primary duty is certification (public auditing / tasdik). They audit the accounts of companies on behalf of the state (Ministry of Treasury and Finance). The “Full Certification Reports” (Tam Tasdik Raporları) they prepare and sign carry the weight of an official audit conducted by state officials. They bear joint and several (mutual) legal and financial liability along with the taxpayer for any tax loss that may arise.
Global System and Universal Equivalents
The hierarchy of accounting and auditing works on a similar logic worldwide, though titles and public authorization distribution vary according to Anglo-Saxon and Continental European law:
| Turkey (Law No. 3568) | US Equivalent | UK / EU Equivalent | Core Function |
|---|---|---|---|
| Company Accountant | Accountant / Bookkeeper | Accounting Clerk / Accountant | Internal data entry and operational accounting transactions. |
| SMMM (Financial Advisor) | CPA (Certified Public Accountant) | ACA / ACCA / CA (Chartered Accountant) | Bookkeeping, financial statement preparation, tax filing, and advisory. |
| YMM (Sworn Financial Advisor) | Statutory Auditor / IRS Enrolled Agent | Registered Auditor | Public certification authority on behalf of the state, tax auditing, and heavy financial liability. |
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