What accounting convention does Turkcell adhere to?
We have historically maintained our books of account and prepared our statutory financial statements in Turkish Lira (prior to January 1, 2005) or New Turkish Lira (from January 1, 2005 onward) in accordance with Turkish Accounting Principles promulgated under the Turkish Commercial Code and Turkish tax legislation. We have periodically prepared Financial statements based on Capital Markets Board Communiqué Serial XI No:25 and USGAAP on quarterly basis and Annual Reports once a year and submitted them to relevant authorities until the end of 31 December 2005. It is decided that IFRS will be adopted for the Financial Statements starting from the first quarter of 2006 on a quarterly basis and Annual Reports once a year for both Capital Markets Board of Turkey and Securities Exchange Commission.
