The IASB has issued a major update to the IFRS for SMEs accounting standard which aims to improve the financial reporting framework for small and medium-sized enterprises. SARAS plans to translate and implement the updated standard to ensure continuous alignment with best international practices in the country. SARAS will also coordinate with donor organizations to ensure that they update the relevant training materials and conduct the training of trainers (ToT)

SARAS representatives attended the sixth BARTA awards ceremonySARAS representatives attended the sixth BARTA awards ceremony

The Georgian translation of the standards is available on the SARAS website

SARAS representatives provided the interested parties with relevant information on the issues covered by the legal act

The meeting will be held remotely via Webex

SARAS has prepared a consolidated document summarizing the inconsistencies identified during the financial statement reviews for the 2022-2023 reporting periods and the review priorities for the 2023-2024 reporting periods. This document is intended for entities, their auditors, regulators/supervisors and other stakeholders with an interest in financial reporting. In addition to these key issues, the document outlines the characteristics of high-quality financial statements and materiality considerations