OUR SERVICES
Turnover Audits
TURNOVER AUDITS
A turnover audit assesses the accuracy of turnover-based rental income and compliance with relevant contractual arrangements over a specified period.
Its purpose is to identify discrepancies between reported and actual turnover and prevent incomplete or incorrect declarations. This helps mitigate underpayments, billing errors and potential disputes between landlords and tenants.
Consumer preferences in Türkiye and globally have increasingly shifted towards shopping centres . Competition among local and national retailers has encouraged the adoption of turnover-based rent agreements alongside traditional fixed rents. This creates a greater need for transparency and reliable reporting between tenants and shopping centre operators.
Beyond shopping centres, turnover-linked franchise, licence, dealership, distribution, royalty and commission arrangements may also benefit from turnover audits.
SCOPE OF TURNOVER AUDIT SERVICES
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Contract Review. The lease agreement provides the primary basis for a turnover audit. We review the definition of turnover, reporting obligations, audit rights and other relevant lease
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provisions. Authorisation. Where the shopping centre operator is contractually entitled to appoint an auditor, we
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notify the tenant in writing. Revenue Declaration Review. We examine the tenant's
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turnover declarations and rental payments for the period under review. Financial Review. We review tax returns, accounting records, POS transactions, e-invoices and supporting sales documents, testing reported turnover and
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rental calculations against accounting evidence on a sample basis. On-site Review. We inspect the leased premises and may conduct mystery-shopping visits to assess trading activity, sales documentation and invoicing practices. Reporting.
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Findings are documented and presented to shopping centre management.
Why Loba Partners?
A turnover audit is more than a financial review: it is an important mechanism for maintaining sustainable relationships between landlords and tenants. Our experienced Sworn Financial Advisors and tax specialists support your organisation in protecting contractual rights, improving transparency and establishing sound, long-term rental arrangements.
To discuss your audit or advisory requirements, please contact us using the details below.
Phone: +90 212 806 7407
Email: info@lobapartners.com
