<p>​</p><div rtenodeid="3"><strong>A panel titled as &quot;Accounting Standards and Economic Sustainability in the Perspective of Corporate Governance&quot; was organized by the Faculty of Economics and Administrative Sciences and Corporate Governance and Sustainability Application and Research Center (KURSAM).</strong></div><div><br/></div><div>At the event which was moderated by Dr. Cüneyt Ebrar Levent, one of the founders of SAHA Corporate Governance and Credit Rating Inc. which is the first rating company in our country, Abbas Yüksel, Assoc. Prof. Dr. Ali Kablan who is the Head of the Istanbul University-Cerrahpaşa (İÜ) Foreign Trade Department, and the Chairman of the ITO Financial Consultancy Sectoral Committee Güventürk Kalaslıoğlu as panelists. The panel emphasized the importance of working with a sustainability perspective in business.</div><div><br/></div><div>Prof. Dr. Gülümser Ünkaya, the Head of the IAU Accounting and Financial Management Department made the following statements at the opening speech of the panel: &quot;Accounting is a science and an art that prepares documents, reports, and analyzes financial transactions in businesses. At this point, financial information is produced in accounting, and efforts are made for those who will benefit from it. Accounting has four basic concepts and each of these concepts is related to sustainability. The concept of social responsibility, which aims to harmonize with society, is also one of them.&quot;</div><div><br/></div><div>From the panelists, one of the founders of SAHA Corporate Governance and Credit Rating INC., Abbas Yüksel expressed his words underscoring that equality, transparency, accountability, and responsibility are important concepts in corporate governance and continued, &quot;Non-corporate governance is personal and arbitrary governance. The importance of corporate governance is the difference from personal, in other words, arbitrary governance by having a collective governance. Responsibility, justice, accountability, and clarity are very important. Furthermore, our lives are based entirely on money. Subjects like businesses etc. are also based on money. Accurate reporting of money also depends on accounting standards. Therefore, there all are intertwined concepts.&quot;</div><div><br/></div><div>From the panelists, the Head of Istanbul University-Cerrahpaşa (IU) Foreign Trade Department Assoc. Prof. Dr. Ali Kablan stated that the aim of companies should not be only profit but also social responsibility projects and mentioned, &quot;First of all, we need to give our attention to the twelve basic concepts emphasized in the &#39;Introduction to Accounting&#39; course and their relationship with sustainability. Sustainability means preserving conceivable resources for future generations. Sustainability means saving resources for the future. We are told that the purpose of companies is to make a profit. However, the situation of being connected only to the profit motive has disappeared. Mervyn King who came up with the idea of integrated reports and who is the Founding Chairman of the Integrated Reporting Council, expresses that the purpose of companies should not only be making profits, but also social responsibility and protecting the environment.</div><div><br/></div><div>From the panelists, the Chairman of the ITO Financial Consultancy Sectorial Committee Güventürk Kalaslıoğlu mentioned: &quot;The concept of sustainability comes to the surface in trade, shopping, and many other subjects. Because no company is founded while thinking of closing down. Everything that has been done is built on this. Their basic structure is to be permanent. In other words, everything is based on the survival of the business and its survival depends on its sustainability.&quot;</div><div><br/></div><div>After the speeches of panelists&#39;, questions from the students were answered. Then, the panelists were presented with a plaque, and the panel was finished.<br/></div><p><br/></p>