Notice to Entities

We would like to remind you that, According to the Georgian law on “Accounting, Reporting and Auditing” PIEs and all category entities are required to submit their 2020 financial statements on Reportal no later than October 1. 

Also, if a reporting period of an entity does not coincide with a calendar year, it shall submit financial statements as soon as they are available, but no later than 9 months following the reporting period end. 

For the attention of IV Category Entities: In 2021, IV Category Entities (excluding IV category group, for which it is not required by law to submit consolidated group reporting) shall submit a full set of statements of 2020, which means that full set of financial statements prepared in accordance with the standard of IV Category Entities shall at least include the following information: 

1. Statement of financial position for the end of the reporting period of 2020 and for both the end and the beginning of the 2019 reporting period; 
2. Statement of income, expenses and undistributed profit for the periods of 2020 and 2019;
3. An entity is required to submit cash movement report for the periods of 2020 and 2019. We would like to remind you, that the preparation of cash movement report is optional. It is recommended by SARAS, though.   

In order to simplify the process of submission of financial statements, please see the video instructions prepared by SARAS. 

If you have any questions regarding the submission of financial statements, you can send us a letter at https://saras.gov.ge/ms/ through our system or call our hotline.   

The articles 9 and 28 of the Georgian law on “Accounting, Reporting and Auditing” are the basis for the obligation of financial statements’ submission. 


We would like to remind you, that entities have been submitting their financial statements on Reportal for four years now. By this time, the average submission rate is 90%, for which SARAS expresses gratitude towards the entities and hopes this rate will be maintained.