Local adoption of IFRS S1 / S2 (ISSB Standards)
Türkiye incorporated IFRS S1 and S2 fully into Turkish law as TSRS 1 and TSRS 2 on 29 December 2023, with mandatory application starting fiscal year 2024 for listed entities, banks and other entities exceeding specified size thresholds.
- Enforcement
- Mandatory
- Effective date
- Fiscal periods starting on or after 1 January 2024
- Covered entities
- All listed entities, banks (regardless of size, except banks within the Savings Deposit Insurance Fund and small unlisted banks with one branch or fewer than 250 employees), and other entities exceeding two of three thresholds in two consecutive periods (total assets TRY 500m, total revenue TRY 1bn, 250 employees), including CMB-regulated investment firms and BRSA-regulated financial institutions