Reporting requirements for State-owned PIEs - SARAS held a virtual event

On March 5, a virtual event for State-owned PIEs was held by SARAS on “Reporting requirements for State-owned PIEs”.

According to the decree N-217 of the Georgian Government of February 11, 2021, the government decree on setting reporting deadlines for the State-owned Entities, classified as Public Interest Entity, as well as for the entities operating with the equity participation of State-owned PIEs was approved. According to which, the different deadlines were set for the submission of financial and non-financial reports.  

The event aimed at reviewing the requirements of the decree and the presentation of the reporting system.
At the meeting, Nikoloz Gagua - Deputy Minister of Finance of Georgia and Shota Gunia - the Head of Division of Fiscal Risk Management of the Ministry of Finance of Georgia made presentations. They talked about the objectives of requirements and enforcement principles approved by the Government.

The representatives of the SARAS discussed the issues related to tenders for public procurement of audit services and informed the attendees that a relevant explanatory note is planned to be published.

In addition, considering the new requirements, they demonstrated the reporting process to the audience. At the end of the meeting, the representatives of the Ministry of Finance of Georgia and SARAS answered the attendees’ questions.