Financial Statement Review
Review of balance sheet, income statement, cash flow information and supporting accounting records.
Türkiye • Acquisitions • Investments • Business Partnerships
Financial Due Diligence Services in Türkiye
BFS provides independent financial due diligence and transaction support for foreign investors, companies, advisors and business partners evaluating acquisitions, investments or strategic partnerships in Türkiye.
Transaction Support
Independent financial review before you invest, acquire or partner in Türkiye
Financial due diligence helps investors understand the real financial position of a target company before making a transaction decision. The review can identify financial risks, inconsistencies, unusual items and issues that may affect valuation, negotiation or transaction structure.
Scope of Review
Financial due diligence areas
The scope is tailored to the transaction, target company, available information and the investor’s priorities.
Quality of Earnings
Assessment of recurring and non-recurring income, unusual expenses and items affecting sustainable profitability.
Working Capital
Analysis of receivables, payables, inventory and working capital requirements relevant to the transaction.
Cash Flow Analysis
Assessment of operating cash generation, liquidity needs and significant cash flow trends.
Debt & Liabilities
Review of bank loans, financing arrangements, liabilities and other material financial obligations.
Receivables & Collections
Analysis of customer receivables, aging, collection patterns and potential credit risks.
Related Party Transactions
Review of significant related party balances, transactions and financial dependencies.
Financial Risk Review
Identification of material financial risks, inconsistencies, unusual transactions and potential red flags.
Management Reporting Review
Comparison of management reporting, accounting records and available financial information for consistency and reliability.
Red Flag Review
Focus on issues that may affect the transaction
Depending on the engagement, BFS can focus the review on material issues that may affect price, transaction structure, warranties, negotiations or post-acquisition planning.
- Unusual or unsupported accounting balances
- Significant overdue receivables
- Unrecorded or unclear liabilities
- Unusual related party transactions
- Material budget or profitability deviations
- Cash flow and liquidity concerns
- Weak financial controls or reporting practices
Transaction Perspective
Financial information translated into decision-relevant findings
The purpose of due diligence is not only to review historical numbers, but to identify financial information that may influence the investor’s decision and negotiation position.
- Normalized profitability observations
- Working capital considerations
- Debt and liability observations
- Potential price adjustment issues
- Financial control weaknesses
- Post-transaction financial priorities
Who We Serve
International clients evaluating opportunities in Türkiye
Foreign Investors
International Companies
Private Equity & Investment Firms
M&A Advisors
Law Firms & Transaction Advisors
Strategic Business Partners
Family Offices
Shareholders & Buyers
Companies Entering Türkiye
Our Process
From data request to decision-ready findings
Scope & Data Request
We define the transaction scope, priorities and required financial information.
Financial Review
Financial statements, accounting records and transaction-relevant financial data are reviewed.
Risk Analysis
Material issues, inconsistencies, financial risks and red flags are identified.
Reporting
Key findings are summarized in a clear report focused on the investor’s decision needs.
Why BFS?
Local financial knowledge with a transaction-focused approach
- Local accounting and financial knowledge in Türkiye
- Experience in financial analysis and control environments
- Independent and evidence-based review approach
- Direct communication from Ankara, Türkiye
- Scope tailored to transaction priorities
Related Support
Beyond financial due diligence
- Financial analysis and management reporting
- Internal control and risk management review
- Cost and efficiency analysis
- Post-acquisition financial process improvement
- Budget and cash flow advisory
Request a Proposal
Evaluating an acquisition, investment or business partnership in Türkiye?
Send us a brief description of the target company, transaction and expected scope. BFS can review your requirements and propose an appropriate financial due diligence approach.