SARAS and TBC Bank organized the presentation aiming to raise awareness regarding IFRS for SMEs

The meeting with the small and medium business representatives was held on the initiative of the Service for Accounting, Reporting and Auditing Supervision Subdivision of the Ministry of Finance of Georgia and supported by the TBC Bank on October 13, 2017.  The meeting aimed to discuss the current reform of accounting and reporting, as well as to raise awareness regarding IFRS for SMEs.

During the meeting, the representatives of the Service and invited speaker by the TBC Bank discussed the importance of the current reform of reporting, the objectives of the Service and significant news. The following issues were discussed: Features, the importance of implementation, the content and expected benefit of IFRS for SMEs.  The discussion was also focused on the plan, according to which, presentations aiming to raise awareness regarding IFRS for SMEs will be held throughout Georgia. The last part of the presentation was dedicated to answering the questions of the audience.

The presentations concerning the reporting reform that arose due to the EU Association Agreement and Georgian `Law on Accounting, Reporting and Auditing` enactment, as well as the presentations aiming to raise awareness regarding IFRS for SMEs will be held on a regular basis. The Service is ready to cooperate with all interested parties in this direction.

Please refer to linked presentation.