19 November 2020
Solvency Audit (1st Training)
Following the first EU Acquis Audit activity that took place in 2019, a second “service” from our Capacity Building Component is developed in the TEBD project, called the Solvency Audit activity.
The objective of this activity is to develop capacity within Turkish Chambers and Commodity Exchanges to offer a first line service to companies who face difficulties. This service will be based on the existing Early Warning Mechanism developed for EU SMEs. The goal is to develop a diagnostic toolkit, which allow the Chamber/Exchange and the company to evaluate its risk for insolvency or bankruptcy. The Solvency Audit activity is organised as Mentoring and Training modules for 25 Turkish Chamber/Exchange executives in three different sessions (5 modules) from November 2020 until January 2021.
The first Solvency Audit training, organized by the TEBD Project, and supported by TOBB and selected EU Experts, took place on 19 November 2020. Turkish Chamber/Exchange executives selected from across Turkey attended the first training given by our four EU Experts:
- Morten Møller – Business Hub Central Denmark
- Evangelia Daratsanou – Business Hub Central Denmark
- Katrina Zarina – Latvian Chamber of Commerce and Industry
- Aruna Soogrim – Paris Ile-de-France Chamber of Commerce and Industry
The first and second module was performed during the first training and participants started the understanding and application of a set of specialized tools when assisting companies in crisis. The methodology of Early Warning, understanding the concept and the overview of the stepwise assistance, and the reasons behind opting for survival or closure of a company was introduced. As well as the initial contact with the company owner, screening, and diagnosis, using the guidelines and checklists prepared by the experts.