1.1.3. Auditing Committee

Members of the Auditing Committee are elected as follows: one member by the shareholder of class (A), two members by the shareholders of classes (B) and (C) and one member by the shareholders of class (D).

Members of the Auditing Committee serve a two-year term of office. The Auditing Committee supervises all operations and accounts of the Bank. The Auditing Committee, which has no administrative power, submits its opinions to the Board in writing and presents a copy to the Prime Ministry thereof. At the end of each year, the Committee prepares a report on the operations and accounts of the Bank and submits it to the General Assembly.

At the regular General Assembly meeting of the CBRT held on 16 April 2012, Prof. Dr. Hasan Türedi, whose term of office was to expire on 30 April 2012, was re-elected as an Auditing Committee member by the shareholders of classes (B) and (C) for a term of office from 1 May 2012 until 30 April 2014.

Mr. Ahmet Fethi Toptaş was elected as an Auditing Committee member by the Auditing Committee to represent the shareholders of classes (B) and (C) to fill the seat vacated by Mr. Abdullah Yalçın due to his election as a Board member. Mr. Ahmet Fethi Toptaş will serve as an Auditing Committee member from 10 May 2012 till the next General Assembly meeting.

By 31 December 2012, the members of the Auditing Committee were: Mustafa Saim Uysal, Prof. Dr. Hasan Türedi, Yasin Aydın and Ahmet Fethi Toptaş.