ADB has approved Capacity Building Support to Georgia on ‘Audit Quality Assurance System`

The Asian Development Bank fielded a Consultation Mission to Georgia on 11-13 December 2017 to discuss possible support to the accounting-reporting reform and institutional strengthening of SARAS. ADB held a roundtable with SARAS representatives and ADB’s consultants (Institute of Chartered Accountants of England and Wales, ICAEW). The aim of the meeting was to discuss future collaboration and reach understandings. 

As a result of above mission meetings the ADB  has approved the project within its ongoing regional technical assistance implementation program for strengthening Audit Quality Assurance, which includes the following components:

• Quality inspection regulation and process improvement
• SARAS Capacity Building (workshops for the board and staff)
• Capacity Building for the local smaller and medium size audit firms’ (provision of audit manual and training workshops)
• Capacity Building for the professional organizations (consultation on management improvements)
• Advisory on accountants’ certification approaches

ADB’s consultants and one of the world’s oldest and largest professional organization - the Institute of Chartered Accountants in England and Wales ( ICAEW ) will implement the project.

The project will start in the beginning of 2018 and end by the year end.