Rule determining the average number of employees

Following the order issued by the head of the Service for Accounting, Reporting and Auditing Supervision Subdivision of the Ministry of Finance of Georgia, ‘The rule determining the average number of employees of the reporting period and its practical examples` has been approved. 

The order was issued according to the statement given in Georgian `Law on Accounting, Reporting and Auditing`, following which the average number of employees, together with the total assets and income of the entity, is one of the criteria to determine the category of an entity. The order aims to set out the rule that can ensure correct and fair reflection of the average number of employees of the entity.  While drafting the order, best practices, as well as the experience of the EU Members states have been taken into consideration.