Within the Good Governance Fund (GGF) British Government approved Technical Assistance project aiming to develop simplified standard of financial reporting for fourth category enterprises

According to the law of Georgia “on Accounting, Reporting and Auditing” fourth category enterprises shall perform accounting and financial reporting in accordance with the simplified standards developed specifically for them. The Service will ensure development and approval of accounting-reporting standards for fourth category enterprises until July 1, 2018.

The Good Governance Fund of British Government will implement technical support project during a period between January-October, 2018. Since 2015, the Fund supports Georgian Government in implementing economic reforms and improving business environment. PwC runs and manages the project.  Within the project, SARAS will communicate with peer EU institutions to share best international practices and experience. Consequently, introduction of the international practice based simplified standard will improve accountability of the IV Category entities and mitigate administrative burden that will result in simplified relations with banks and third parties.