The content of today’s article will be about how financial advisors’ fees are determined and how you can find out what item-by-item fees are.
First of all, financial advisors, like lawyers, are obliged to comply with a minimum wage schedule. If they do not charge and collect in accordance with this tariff, they face disciplinary penalties.
While the fees are determined, the chambers of financial advisors start their work in September to determine the fee schedule for the next year, and send the tariffs they are working on to the Temporary Board in October. The tariff sent is arranged in a way that varies according to the regions of the country and sent to the Ministry until the last day of November. The Ministry, on the other hand, announces the tariff with the publication of the Official Gazette after making the necessary arrangements. While preparing the tariffs, they are prepared by paying attention to Independent Accountants, Independent Accountant Financial Advisors and Certified Public Accountants separately.
The pages where you can follow this issue are the tariff page of the Istanbul Chamber of Certified Public Accountants for Istanbul and the pages where the Ministry of Finance also reports the publication of the Official Gazette.
The fee schedule, which is usually published in the last week of the current year, is published at the beginning of the following year, for example, on January 01, 2023.
Things to consider when reviewing the tariff:
- Type of your company: Depending on the type of company, bookkeeping fees such as business book, limited liability company, joint stock company vary.
- Number of workers: The number of workers in your company is also another parameter that can cause a change in the wage schedule.
- City: If you are examining the tariff published by the relevant chamber, you will already come across figures suitable for your city. However, if the tariff you are examining is the tariff of the Ministry of Finance, you will see the cities divided into groups. You can determine which city you are in from the cities divided into 4 groups from the city groups at the bottom of the tariff. For example, according to the latest tariff, cities such as Adana, Ankara, Balıkesir, Bursa, Denizli were in the 1st group (that is, their wages were higher than other cities), and cities such as Aydın, Bolu and Çanakkale were in the 2nd group.
- Where the service is provided: Does the professional financial advisor offer you the service at your workplace or does he follow your business from outside? If the service is offered at your workplace, you should calculate the fee corresponding to your fee in the tariff with 25% more.
- If you have foreign trade transactions, an additional 10% fee will be applied to your fee.
In general, the details about the CPA fee schedule are as follows, and based on the above information about the fees for 2023, you can determine how much your company
can pay.
or you can find the ISMMMO fee schedule , which offers the fee application in Istanbul, here.
As Ahmet Faruk Altınş Financial Consultancy Office , we can help you with important issues that you are curious about, want to learn, and that will guide your business. For more details and to take advantage of our free preliminary consultancy service, you can contact us using the information on our contact page.
