The World Bank conducted a survey to assess the impact of the COVID-19 on the market for audit services

As a follow-up to the webinar ‘Small and Medium-Sized Practices Rising to Coronavirus Challenge’ on 29 May 2020, the World Bank Georgia office, in collaboration with SARAS and the Georgian professional accountancy organizations (PAOs), conducted a survey of auditors and audit firms to assess the impact and implications of the coronavirus (COVID-19) pandemic on the market for audit services in Georgia. The survey was launched on 16 June 2020 and it primarily comprised small and medium-sized practices (SMPs). 

Different countries faced identical challenges due to the coronavirus pandemic. Accordingly, the findings observed in Georgia concurred with similar surveys in other jurisdictions. 

The report summarizes the key findings from the survey and concludes with some recommendations. 

The World Bank plans to continue supporting SMPs as part of the World Bank and the European Union Financial Inclusion and Accountability Project.