Internal Audit Report 2016
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Letter of Guarantees<br />
Due to contractual requirements letter of guarantees have been provided to<br />
commercial companies and govenment authorities. These letters of<br />
guarantee should be withdrawn when the business relationship ends or when<br />
the contracts are no longer valid.<br />
TAV Holding and its subsidiaries have provided letter of guarantees valued<br />
TL 1.8 billion, of which TL 1.7 billion was given to the official institutions and<br />
TL 117 million to commercial companies.<br />
Inte rnal <strong>Audit</strong> Activity performed the evaluation of current status of<br />
outstanding letter of guarentees covering TAV Holding and its subsidiaries.
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