The Solvency Audit addresses Turkish SMEs that are facing financial and operational difficulties. In line with the previous Audit activities, this activity aims at developing capacity within Turkish Chambers of Commerce and Industry and Commodity Exchanges, in order to provide a first line service to companies that are facing difficulties.
This service is based on the existing Pre-Solve instrument, developed for European SMEs. The TEBD Team, with the support of network experts, will develop a range of checklists and diagnostic tools, which will allow each Chamber/Exchange, as well as the companies themselves, to evaluate their risk of insolvency or bankruptcy.
A three-day online training will be organised for 25 Turkish Chamber experts.
Following this training, each Turkish Chamber/Exchange will commit to carry out at least 10 solvency audits of different Turkish companies, in order to assess their risk of insolvency or bankruptcy.
The TEBD team, with the support of experts from the Chamber network, will be in contact with each Turkish Chamber/Exchange in order to finalise the audits.
Following the completion of these audits, a general Solvency Report will be drafted by each Chamber/Exchange, providing a comprehensive overview of the problems that were identified and making recommendations for further actions to be implemented in order to reduce the number of insolvencies.