SARAS will publish undelivered acts on the reporting portal

As part of the ongoing reform of accounting, reporting and auditing supervision in Georgia, one of the major challenges has been the hand-over of correspondence/documents, including sanctioning acts on the imposition of liability, to the entities subject to SARAS supervision, which has previously hindered the implementation of the legal requirements.

As of today, the act delivery process will be done electronically through a reporting portal, which will make the process of enforcing legal requirements more effective.

Namely, if the delivery of an individual administrative-legal act on the reporting portal is not confirmed by the entity through the appropriate technical means, SARAS is authorized to publish the document on the reporting portal after 20 working days. The document is considered to have been delivered on the 10th calendar day following its publication.

It should be noted, that the publication of legal acts on liability ensures that they enter into force, inform interested parties and facilitate their effective enforcement.

Read more about the amendment to the Law of Georgia "On Accounting, Reporting and Auditing" and the related Law of Georgia "On Entrepreneurs".