Presentation aiming to raise awareness regarding IFRS for SMEs was held

First Presentation aiming to raise awareness regarding IFRS for SMEs was held on October 4, 2017. The presentation was held on the initiative of the Service for Accounting, Reporting and Auditing Supervision Subdivision of the Ministry of Finance of Georgia and in partnership of the Federation of Auditors, Accountants and Financial Managers (GFAAFM). The members of the Federation, including auditors, the representatives of the enterprises of the enterprises of the second and third category and invited guests attended the presentation.

During the presentation, the Service introduced to the audience the requirements set by the “Law of Georgia on Accounting, Reporting and Auditing” and the rule for presentation and publication of financial/non-financial statements. The special attention was focused on the importance of application, the content and expected benefit of IFRS for SMEs.

The Service for Accounting, Reporting and Auditing Supervision Subdivision of the Ministry of Finance of Georgia collaborates with the public, as well as private sector on IFRS for SMEs awareness. IFRS for SMEs awareness-raising presentations will also be held in the future on a regular basis. Moreover, it will gain regional coverage in Georgia acquiring larger scale.