SARAS meeting with the Insurance State Supervision Service of Georgia

On May 27 the representatives of the Service for Accounting, Reporting and Auditing Supervision of the Ministry of Finance of Georgia and the Insurance State Supervision Service of Georgia held a meeting. The parties discussed the current developments at insurance sector, the main regulatory changes, as well as the main challenges in auditing of insurance companies statements.

The parties set up a joint plan for future activities in the framework of quality assurance and developed the ways for cooperation. They also discussed implementation of joint measures to ensure the readiness of the insurance sector for the expected changes in the IFRS with respect to insurance industry.