ERDEM-NEWSLETTER-2018-metin

211 CAPITAL MARKETS LAW and Auditing Standards Authority as the basis in preparation of the financial statements. The issuers may draw up annual financial statements in accor- dance with the principles set forth, annually. Investment companies that must prepare consolidated financial statements are obliged to prepare their annual consolidated financial statements, as well as their annual individual financial statements. In addition to the annual financial statements, corporations stated under the Communiqué on Financial Reporting (investment enterprises, investment companies, etc.) are obliged to prepare interim financial reports quarterly, semi-annually, and every 9 months. Invest- ment companies that are required to prepare consolidated financial statements are obliged to prepare their interim consolidated financial statements, together with their interim individual financial statements. The boards of directors of the issuers are responsible depending upon any faults apportioned to them, and in the nature of things re- quired for the preparation and submission of the annual and interim financial reports in accordance with the provisions of the legislation. Within this context, the boards of directors of the issuers are required to obtain separate decisions for acceptance of the financial statements. Annual and interim financial reports to be disclosed to the public are accompanied, not only by the financial statements and boards of directors’ reports, but statements of the directors responsible for the financial reporting and the general managers of the entities or their managers in charge of the financial reporting. Such statements should include the affirmations that they have examined the reports, and the reports do not contain any untrue statements as to material events, or any deficiencies that may be misleading as of the date of each state- ment. The issuers are under the obligation to publish their annual and interim financial reports on their own websites after they have been disclosed to the public, in such a manner so as to allow easy access by the financial report-users thereto. Such information is required to be remain available to the public on the relevant websites for a minimum period of 5 years.