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Who is a Financial Advisor and What Do They Do?
All businesses, from newly established startups to well-established companies, fulfill their tax obligations under the guidance of financial consultants, confidently create their financial statements, and base their strategic decisions on solid foundations. The professional standards set by Law No. 3568 make financial consultancy a critical function that requires both technical expertise and analytical and strategic thinking skills.
Who is a Financial Consultant?
A financial consultant, according to Law No. 3568, is a licensed expert who keeps the books of businesses, prepares tax returns, monitors financial processes in accordance with legislation, reports, and audits when necessary. The profession is practiced under two different titles:
Certified Public Accountant (CPA): Keeps books, prepares tax returns, executes payroll and daily accounting processes; provides ongoing consultancy to the business.
Sworn-in Certified Public Accountant (SCPA): Authorized after at least ten years of CPA experience and passing an exam; does not engage in bookkeeping. Provides independent auditing and reporting by certifying tax returns and financial statements; documents stamped by them have the nature of evidence in administration and judicial proceedings.
What Does a Financial Consultant Do?
According to Article 2 of Law No. 3568, financial consultants can offer the following services to real and legal persons:
Task | Description / Contribution |
Accounting Records | Organize income-expense records, correct errors and deficiencies |
Financial Reports | Balance sheet, income statement, cash flow, special reports (VAT refund, capital increase) |
Tax Services | Tax planning, return preparation & electronic approval |
Social Security & Payroll | Employee notifications, payroll preparation, e-Declaration approval |
Consultancy | Establishment, mergers, demergers, liquidation, tax, and financial processes |
Why is it Important?
Reduces the risk of incorrect declarations: Minimizes tax penalties and late interest charges.
Provides financial visibility: Management can make rapid decisions with up-to-date reports.
Accelerates growth: Correct tax incentives and financing options are identified.
How to Become a Financial Consultant? (2025)
Undergraduate Degree: Graduate from programs like economics, business administration, finance, accounting, etc.
Internship: Mandatory internship for 3 years for undergraduate graduates, 2 years for master's graduates.
CPA Exam: Pass the multi-session exam conducted by TESMER.
License: Obtain a license through the Union of Chambers of Certified Public Accountants and Sworn-in Certified Public Accountants of Turkey (TÜRMOB).
Additional Conditions: Capability to exercise civil rights, not being deprived of public rights, and not having received a disciplinary penalty incompatible with professional dignity (Law No. 3568 Article 4).
Frequently Asked Questions
What is the biggest difference between CPA and SCPA?
SCPAs issue tax certification reports and certify the accuracy of declarations; CPAs cannot certify but carry out all bookkeeping and declaration processes.
When do I need a financial consultant?
Professional support is required from the establishment phase of the company for book opening, tax office notifications, social security processes, and initial declarations.
Digitize Your Accounting and Tax Processes with Üstad
If you want to reduce traditional accounting burdens, you can work with your financial consultant digitally through the Üstad platform; automatically transfer your income-expense invoices and access your trial balance and balance sheet reports from a single panel.
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Üstad