PwC PricewaterhouseCoopers

Dear Sir/Madam,
You have thousands of employees and customers all around the world.  However, I couldn’t get a response for my letter that I wrote regarding the company, which was inspected by Talar Gül from your Turkish Office on 22.02.2018, and even though I wrote to the other members of the board of directors on 26.02.2018 Monday again, I still wasn’t given a feedback.

I send the text of the letter that I wrote to the Turkey PwC to you. I kindly submit to your information for taking necessary action to give an immediate response to me regarding the issue.

With my best regards,
Hakan Yavuz

Dear Talar Gül,

PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş.


I have considered it necessary to write to you since you have performed the Independent Audit activities of the Akbank A.Ş. and Ak Yatırım Menkul Değerler A.Ş. and you have your signature under the report. Since I couldn’t get any answer to my communication efforts from your institution and since the judicial process continues, I want to share some of the details with you, which I want to believe that you are not aware of. 

As it is also mentioned in your report, it is seen on the 11th page of the Public Disclosure Form of Ak Yatırım Menkul Değerler A.Ş. dated 06 February 2018, which is drawn up by the intermediary institutions, that you have some open-ended and malleable responses to the issues that you should be completely objective just as in the answers of the CMB. Thankfully some of the facts are mentioned in your report, even though superficially, that I believe your institution published especially in small font sizes not to draw attention.

I am sending the points to you in the attachment of my letter by referring to your report and mentioning the points I considered as important: Company management is responsible from the internal control that it finds necessary for preparing the financial statements in accordance with the TAS, presenting them truthfully, and preparing them as not to include material misstatement resulting from mistake or deception.

Those responsible from top management are responsible from monitoring of the financial reporting process.

Internal auditor Mehmet Akman and IT officer Ms. Merve were only interviewed once, and the method of covering some facts was preferred with a misleading, prejudiced and fraudulent report by making a fait accompli. The funny part is that when I tried to inform the General Director and the top management, I even wasn’t listened and answered.

The reasonable assurance given as a result of and independent audit, which is carried out in accordance with the IAS is a high assurance level, but it doesn’t guarantee that an existent material misstatement will be always detected. Misstatements may be resulting from mistake or fraud. If these mistakes are reasonably expected to affect the economic decisions that financial statement users will take with regard to these statements separately or as a whole, these misstatements are accepted as material.


I consider it necessary to share this information with you, since there is a case on trial within the scope of information provided to you, and I believe that you are not informed about these issues. How is that possible not to carry out a detailed research about an account, which has 30000 lots trading volume, hundred of thousands of commission income, and billions of dollars of transactions? I kindly request you to examine the case file numbered 2017/17.

Since fraud may involve collusion, deliberate negligence, misstatement or internal audit infringement actions, the risk of not detecting a material misstatement resulting from fraud is higher than the risk of not detecting a material misstatement resulting from mistake.

In case we conclude that there is a material uncertainty, we have to draw attention to the relevant explanations in the financial statements or if these explanations are insufficient, we issue an opinion else than positive opinion.

While filing a criminal complaint to CMB publicly, I also made notifications to BIMER, CIMER, some Parliamentarians and required law-enforcement officers. While I had been put in a lying position, some offenses were committed against the court like making fraudulent, false and unrealistic statements. If I had a little contribution in the communiques and decisions taken particularly for Forex, I am pleased. I hope that you will do what you have to do, since you are aware of the facts.

Moreover, I also want to mention that in addition to the offenses of Ak Yatırım Menkul Değerler A.Ş., there is also another ongoing litigation (2015/1257) regarding the Forgery of Documents, Qualified Embezzlement, and Banking Offenses of Doğuş Boya, which happened in the Perpa Branch of Akbank A.Ş. I mean, many fraudulent transactions have been made against many people, not only me, and it is obvious where these ongoing irregularities will go, and this doesn’t have another purpose to extend the inevitable ending.

We may decide not to mention the relevant issue in our independent audit report in cases where the legislation doesn’t allow the issue to be announced to the public, or in the exceptional cases where the negative results, which will arise from announcing the issue to the public, is reasonably expected to exceed the public interest.

Believe me, I cannot understand why nothing was made against these people, who are both guilty and powerful so that they can show courage to file a criminal complaint against me from the 74th article due to the posts shared in social media, courage enough to take the risk of defaming the institution, and so blinded as to refute the clearly said words. It should not be forgotten that when your false statements and claims becomes evident, trust and reputation will be important.

Even though you don’t explain, public opinion will be informed about all of the facts when the time comes.

Nothing can be hided forever!


Hakan Yavuz