The annual award is intended to encourage compliance with new reporting regulations, foster healthy competition between companies, and improve the overall quality of corporate reporting

As a result of amendments, accountants providing professional services and accounting firms were added to Article 3(1)(b.d) of the Law of Georgia on Facilitating the Prevention of Money Laundering and Terrorism Financing

With the adoption of the law, the existing AML/CFT requirements for the obliged entities have been applied to accountants providing professional services and accounting firms

The event has been held by SARAS and IFRS Foundation with the support of the World Bank for six consecutive years, in order to give timely and more in-depth information to entities regarding the draft amendments, which will have a positive impact on the quality of reporting

With the adoption of the draft law, the existing AML/CFT requirements for the obliged entities will be applied to accountants providing professional services and accounting firms

From Georgia, the representatives of the Ministry of Finance, professional organizations, academic circles and SARAS attended the event