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152
İŞBANK
ANNUAL REPORT 2014
To the Board of Directors of Türkiye İş Bankası Anonim Şirketi;
We have audited the consolidated balance sheet of Türkiye İş Bankası AŞ (“the Bank”) and its financial affiliates (together “the Group”) as of 31 December 2014 and the consolidated
income statement, statements of cash flows and changes in shareholders’ equity for the year then ended and a summary of significant accounting policies and notes to the financial
statements.
The Board of Directors of the Bank is responsible for designing, implementing and maintaining internal control relevant to the preparation and fair presentation of the consolidated
financial statements that are free frommaterial misstatement, whether due to error or fraud; and for selecting and applying appropriate accounting policies in accordance with the
“Regulation on Accounting Applications for Banks and Safeguarding of Documents” published on the Official Gazette numbered 26333 dated 1 November 2006, Turkish Accounting
Standards, Turkish Financial Reporting Standards and other regulations, communiqués and circulars in respect of accounting and financial reporting published by the Banking
Regulation and Supervision Board and the pronouncements made by the Banking Regulation and Supervision Agency.
Our responsibility, as independent auditors, is to express an opinion on these consolidated financial statements based on our audit. Our audit is performed in accordance with the
“Regulation on the Assignment and Activities of the Banks’ Independent Audit Firms” published on the Official Gazette no. 26333 dated 1 November 2006 and Standards on Auditing
which is a component of the Turkish Auditing Standards published by the Public Oversight Accounting and Auditing Standards Authority (“POA”). We planned and conducted our audit
to obtain reasonable assurance as to whether the financial statements are free of material misstatement. Our audit includes using the audit techniques for the purpose of obtaining
evidence supporting the amounts and disclosures in the financial statements. The selection of the audit techniques is made in accordance with our professional judgment by taking
the effectiveness of the controls over financial reporting into consideration and assessing the appropriateness of the applied accounting policies. We believe that our audit provides a
reasonable basis for our audit opinion.
The accompanying consolidated financial statements as of 31 December 2014 include a general provision amounting TL 1,000,000 thousands, which had been recognized as expense
in the prior periods provided by the Bank management for the possible result of the negative circumstances which may arise from any changes in economy or market conditions.
In our opinion, except for the effect of the matter described in the fourth paragraph above on the consolidated financial statements, the accompanying consolidated financial
statements present fairly, in all material respects, the financial position of Türkiye İş Bankası AŞ as of 31 December 2014 and the result of its operations and cash flows for the year
then ended in accordance with the prevailing accounting principles and standards set out as per the existing regulations described in Article 37 and Article 38 of the Banking Act No:
5411 and other regulations, communiqués and circulars in respect of accounting and financial reporting and pronouncements published by the Banking Regulation and Supervision
Board and the pronouncements made by the Banking Regulation and Supervision Agency.
Report on Other Legal and Regulatory Requirements
1) Pursuant to the fourth paragraph of Article 402 of the TCC no.6102; no significant matter has come to our attention that causes us to believe that the Group’s bookkeeping activities
for the period 1 January - 31 December 2014 are not in compliance with TCC and provisions of the Bank’s articles of association in relation to financial reporting.
2) Pursuant to the fourth paragraph of Article 402 of the TCC; the Board of Directors provided us the necessary explanations and requested documents in connection with the audit.
Istanbul,
Akis Bağımsız Denetim ve Serbest
2 February 2015
Muhasebeci Mali Müşavirlik
Anonim Şirketi
Murat Alsan
Partner, SMMM
TÜRKİYE İŞ BANKASI A.Ş.
Independent Auditors’ Report
Additional paragraph for convenience translation to English:
As explained in Note I in Section Three, the accompanying financial statements are not intended to present the financial position and results of operations in accordance with the
accounting principles and practices generally accepted in countries and jurisdictions other than Turkey.