With the support of the Regional Chamber of Commerce in Kutaisi and donor organizations, the SARAS has held a working meeting in Kutaisi on the project of simplified financial reporting standards for IV category enterprises and its implementation, the main object of the project was to introduce the auditorium with the basic principles of the new standards of financial reporting for IV category enterprises and its legislative requirements

For the attention of audit firms, auditors and other stakeholders, the SARAS considers it reasonable to publish the information on the planned directions of the quality control system monitoring in 2019. In addition to the planned directions, the document also includes: types of monitoring, monitoring timeframe provided in the legislation, monitoring commencement indicators and description of monitoring processes. (see link)

In the document published by the IFRS Foundation - "Editorial Corrections" – are given only corrections to the mandatory and core non-mandatory texts, such as the bases of conclusions, illustrative examples and implementation guidance

IFIAR releases Report on Survey of Audit Regulators’ Enforcement Regimes

On December 27, 2018, amendment was made to the decree N-9 (July 12, 2017) issued by the SARAS - ‘rule of Quality Control System Monitoring implementation’.

The World Bank’s CFRR and AFM organized a peer learning workshop on the implementation of the audit reform for the representatives of SARAS in Amsterdam