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01 January
2025
SARAS informs auditors/audit firms of important news they should consider before January 2025
From 2020 onwards, the rule for submitting annual and semi-annual interim statements to the National Bank as defined by the Law of Georgia on “Securities market” has been changed for accountable entities
Accountable entities shall submit their 2019 audited annual statements in accordance to updated rules (NBG Decree of April 8, 2020), no later than June 30, 2020.
See detailed information at the link.
Research – a new section on SARAS web page
Research section is added to the official web page of SARAS. Researches, statistical products and important analytical information regarding the Reform, based on SARAS information resources, will be available there
World Bank conducts a survey of auditors and audit firms to assess the impact of COVID-19
World Bank Office in Georgia, with support of SARAS and PAO, conducts a survey of auditors and audit firms to assess the impact of COVID-19 on the audit market
Position of Georgia on updating IFRS for SMEs Standard
SARAS submitted a comment letter on the exposure draft of IFRS for SMEs Standard to the World Bank, reflecting a consolidated position of Georgia
Public comment deadline for the draft amendments to the Financial Reporting Standard for IV Category Entities has been prolonged
Considering current circumstances due to impact of COVID-19, SARAS prolonged public comment period to ensure active participation of the professional society in the improvement process of the Standard
