Page 151 - A&T BANK ANNUAL REPORT 2012

Convenience Translation of the Auditors’ Report Originally Prepared and Issued in Turkish (See Section 3 Note I)
To the Board of Directors of Arap Türk Bankası Anonim Şirketi:
We have audited the consolidated balance sheet of Arap Türk Bankası Anonim Şirketi (“the Bank”) and its subsidiary (“the Group”) as at 31
December 2012 and the related consolidated statement of income, consolidated statement of cash flows, consolidated statement of changes
in shareholders’ equity for the year then ended and a summary of significant accounting policies and notes to the consolidated financial
statements.
Disclosure for the responsibility of the Bank’s Board of Directors:
The Bank’s Board of Directors is responsible for establishing and maintaining an effective internal control system over financial reporting
to prevent the misstatements caused by error or fraud, that are material to the consolidated financial statements; and for adopting sound
accounting policies in compliance with the “Regulation on Accounting Applications for Banks and Safeguarding of Documents” published
on the Official Gazette no. 26333 dated 1 November 2006, Turkish Accounting Standards, Turkish Financial Reporting Standards and the
statements and guidance published by the Banking Regulation and Supervision Agency (“BRSA”) on accounting and financial reporting
principles.
Disclosure for the Responsibility of the Authorized Audit Firm:
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 International Standards on Auditing. We planned and conducted our audit to obtain
reasonable assurance as to whether the consolidated 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 consolidated 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 opinion.
As of the balance sheet date, the accompanying consolidated financial statements include a general free reserve amounting to TL 5.000
thousands provided by the Bank management considering the adverse circumstances which may arise from any changes in economy or
market conditions, and full amount of such provision had been recognised as expense in the previous period.
Independent Auditors’ Opinion:
In our opinion, except the effect of the matter that aforementioned on the 4th paragraph above, the accompanying consolidated financial
statements present fairly, in all material respects, the consolidated financial position of Arap Türk Bankası Anonim Şirketi as of 31 December
2012 and the result of its operations and cash flows for the year then ended in accordance with the accounting principles and standards as per
the existing regulations described in Article 37 and 38 of Banking Law No 5411 and the statements and guidance published by the BRSA on
accounting and financial reporting principles.
Istanbul, 7 February 2013
Akis Bağımsız Denetim ve
Serbest Muhasebeci Mali Müşavirlik
Anonim Şirketi
Murat Alsan
Engagement Partner
Additional paragraph for convenience translation to English:
As explained in Section 3.I, the accompanying consolidated 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.