Consolidated position of STAREP countries on amendments to the IFRS for SMEs is placed on IFRS Foundation web-page

The International Accounting Standards Board (IASB) issued a statement in the second half of 2019 for feedback on potential amendments to the IFRS.

An important Project has been undertaken within the STAREP program, conducted with support of the World Bank Centre for Financial Reporting Reform (CFRR), which aims to consolidate opiniond on potential amendments to the IFRS at the regional level. The supervisory and professional bodies of three STAREP member countries participated in this project – their position was consolidated and submitted by the World Bank delivered to the IFRS Foundation. IFRS Foundation placed it among other opinions on its web-page.

IASB will consider reasonable suggestions and while amendingto the IFRS for SMEs. Service for Accounting, Reporting and Auditing Supervision of the Ministry of Finance of Georgia is observing the decision-making process by the IASB and will share relevant news to the professional community on timely basis. 

SARAS once again greatly appreciates the cooperation of each person who participated in the process of forming the position of Georgia.