On the initiative of SARAS, Practice Statement 2 – “Making Materiality Judgements” issued by the International Accounting Standards Board (IASB), was translated into Georgian. The document is published on the SARAS webpage and is available to any interested party. 

For the attention of audit firms, auditors and other stakeholders, SARAS publishes the information on the planned directions of the quality control system monitoring for 2020. The document describes types of monitoring, timeframe, indicators for commencement of the monitoring and its process (see the link). 

Submitting 2019 information on revenue/number of employees by auditors and audit firms

26 000 entities submitted their annual reports to SARAS

The program was carried out with the support of international donors, professional organizations, banking and academic sectors. It aimed to enhance the qualification of small and medium-sized business sector employee

Public Interest Entity status was assigned to state owned entities with state/municipality ownership  stake above 25%