Meeting with the IFAC representatives

On February 11, with the support of the World Bank, the representatives of IFAC and SARAS hold a meeting in IFAC office, USA. 

The meeting aimed at discussing important topics on strengthening the audit field, as well as the current status of cooperation and future perspectives. Including: 

• To receive a general update on the proposed International Standard on Quality Management (ISQM) 1, understand main differences between ISQC 1 and new ISQM 1, convergence with the recently issued PCAOB Quality Control Concept. 
• To receive an overview of the SME/SMP development trends. To discuss the possibility of organizing an event for the respective audience in Georgia. 
• To explore areas of potential cooperation between IFAC and SARAS for PAO capacity building in Georgia;
• To receive an update on the current trends and planned changes in International Education Standards.

IFAC is the global organization for the accountancy profession, composing more than 175 member and associate organizations in 130 countries and jurisdictions, representing nearly 3 million professional accountants.