Turkey's BIST declines after investigation into 65 auditing firms, Erdogan makes a speech on Iran issue

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2026-03-11 13:55:08

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Investing.com – Turkey’s Competition Authority announced on Wednesday that it has launched investigations into 65 companies in the auditing and financial consulting sector, including the Turkish branches of global accounting firms KPMG, PwC, Deloitte, and EY.

The authority stated that the investigation aims to determine whether companies and professional organizations in the sector have coordinated on service fees or engaged in anti-competitive behavior in the labor market.

The announcement impacted the Turkish market on Wednesday, with the country’s main bank index falling 2% and the BIST 100 index dropping 1%.

Turkish President Erdoğan, in a separate speech to the parliament on Wednesday, said that Iran’s war must be stopped before the entire region falls into conflict. He added that ending the conflict is possible if diplomatic opportunities are pursued.

Erdoğan stated that Turkey is in contact with all parties to seek an end to the war.

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