About

Overview

Istanbul Chamber of Certified Public Accountants (ISMMMO)

The Istanbul Chamber of Certified Public Accountants was founded in 1990, after the introduction of CPA regulations enacted under Law No. 3568 in 1989. ISMMMO is widely recognised as one of the leading accountancy body in Türkiye.

The Chamber's principal objectives include the provision of an organisational framework for all professional accountants, the support and the promotion of the activities and interests of the accountancy profession, the safeguarding of the reputation of the profession and adherence to the Code of Ethics by all its members, as well as the continuous professional development and updating of the members on issues relevant to accounting, auditing and other business matters.
ISMMMO, provides a wide range of support services to more than 40.000 members and 12,000 trainees with:

Effective representation of the profession's interests in politics, government and other institutions, both nationally and internationally;

- Development of technical rules for exercising the profession to assure uniform high quality;
- Operational and technical support for the daily work of members;
- Organization of professional trainings, seminars, events aligned to the prevailing requirements, including support for Professional Examination candidates;
- An efficient Information and Media Centre for research into professional services.

ISMMMO is the member of TURMOB (Union of Chambers of Certified Public Accountants Türkiye), which is the national professional body with the authority to award Professional License.

S.W.O.T Analysis of the Chamber and CPAs

STRENGTHS (McKinsey 7S)

1) Structure:
• Smart head office building in the centre of Istanbul. (close to public transportation i.e underground,buses)
• Strong-Matrix organization.with seperation of powers.
• Know-how and in-depth experience in accounting profession.
• A distinguished non-governmental institution with strong reputation thanks to its high valued brand equity.
• Representing 60.000 CPAs since 1990.
• High intellectual property of the Chamber (publications, seminars,ISMMOblog, training , journal, of Mali Çözüm)

2) Strategy:
• Our goals and priorities are set by well-defined vision and mission. To achieve these goals, our activities are executed in a resoluted manner.

Our VISION is
o Attachement to corporate governance principles and ethical rules.
o Commitment to irreplaceable values of the principles of trust, integrity, accountability and transperancy.
o Creating value to all of our stakeholdes
o Continuous support for raising increased awareness of sustainability
o Improving business models and human capital,processes with operational excellence.

Our MISSION is
o Building systems to train and develop CPAs on a continuous basis,
o Empowering accounting professionals with scientific and technological knowledge,and improve their vocational standards
o Supporting the implementation and functioning of international acoounting standards(where applicable) and local legislation,
o Helping CPAs build long-lasting relationships with SMEs and be their trusted partners

3) Staff
o One of the biggest non-government institutions in Turkiye with more than 60.000 CPAs and interns.
o Qualified and dedicated CPAs providing robust and reliable information and advisory services to support SMEs
o More than 32% of CPAs are women.
o Career Center,, Employment Office, Mentorship activities of the Chamber for CPAs and interns

4) Skills
o CPAs talent of “know-your-customer “ which enables them support SMEs
o CPAs’ functional business and customer –driven approaches.
o CPAs dedicated work style fosters employment through supporting SMEs
o Intense english courses held bu the Chamber for CPAs.

5) Systems
o Effective IT infrastructure and technolgy participation in business systems.
o Technology and team participation being key accelerators of our strategy.
o Low error rates and simplified operations owing to our “LUCA” acccounting software.
o Enhanced operational excellence with investments in digital platforms
o Cutting-edge technological structure.and enriched remote services.

6) Shared Values
o Corporate culture recognized by all CPAs.
o Direct contribution to UNDP Sustainable Development Goals
o Ethical rules enhancing the reputation of CPAs

7) Style
o Democtaric elections held every 3 yrs to form Board of Directors.
o Pluralist and participatory management style.
o Standing by CPAs, employee and member health.
o Proactive and prudent management applications.

WEAKNESSSES (McKinsey 7S)
o Staff :High turnover rates in CPA offices
o Structure:SMEs financial burdens causing relatively low income levels of CPAs.
o Structure: small-scale business type of CPA offices.
o Systems:Bureaucratic operational work loads of CPAs caused by tax offices and legislation.

OPPORTUNITIES (Macro Environment and PESTLE)
o Technology: The Chamber’s investments in technology and digitalization in the early stages secured increased service level and quality. (operational ease and smooth transition to remote work)

o Demography: High rate of population increase and entrepreneurial spirit of SMEs are to widen the market for CPAs

o Ecology: In paralel with rising awareness of environmental matters, the Chamber’s environment friendly activities (i.e memorial forests, energy saving applications) improves its positive image in the society..

o Social-Cultural: Advisory functions of CPAs enabling them to help SMEs overcome sustainability problems.

o Social Pressure Group: High number of members and its positive reputation empowers the Chamber.


THREATS (Macro Environment and PESTLE)
o Competition: Incrasing number of CPAs and financial problems of SMEs may lead to competition amongst CPA offices and hence diminishing revenues.

o Customers: Customers of CPA offices have comparaive advantage of competition against CPA offices..

o Political/Legal: To mitigate the impact inflicted by pandemic, new regulations and legislations have been put into use and they have accelarating effects on work loads of CPA offices.

o Demografic/Technology: Talents of Generation Z with regard to digitalization, may force some CPAs (not adapting themselves to new tech) exit the market