THE REPORTING PROCESS FOR THE 2024 REPORTING PERIOD HAS STARTED! PLEASE SUBMIT YOUR REPORTS, IMMEDIATELY, AS SOON AS THEY ARE AVAILABLE

IASB issues a major update to the IFRS for SMEs Accounting Standard

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)

read more

Updated regulatory standards for auditing entered into force

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

read more

Another AML/CFT Stakeholder Awareness Session held by SARAS

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

read more

Another AML/CFT Stakeholder Awareness Session to be held by SARAS

The meeting will be held remotely via Webex

read more

Inconsistencies Identified and Review Priorities for Financial Statements – Fifth Edition

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

read more