Agreement with the International Financial Reporting Standards Foundation Corporation was signed

The Ministry of Finance of Georgia, the Service for Accounting, Reporting and Auditing Supervision Subdivision of the Ministry of Finance of Georgia and the International Financial Reporting Standards Foundation Corporation (IFRS Foundation Corporation) signed the agreement regarding adoption and publication of IFRS requirements on September 19, 2017. According to the agreement, the Service is entitled to translate, adopt and publish on the official web-page the following international standards:

• International Financial Reporting Standards (IFRS).
• IFRS for Small and Medium-Sized Entities (IFRS for SMEs).


The latest, 2017 edition of the IFRS standards, as well as the latest, 2015 edition of the IFRS for SMEs are now being translated and in the near future (until the end of the year 2017) will be published on the official web-page of the Service.