Starting this year, Georgian businesses will prepare and publish management reports for the first time, as part of a reform of accounting and audit practices which aims to achieve greater transparency on the Georgian market, expand investment prospects and simplify access to credit.
To support local companies, the Georgian Service for Accounting, Reporting and Auditing Supervision, with the help of the EU4Business STAREP (Strengthening Auditing and Reporting in Countries of the Eastern Partnership) programme, has launched a series of events to raise awareness about this new legal requirement and help companies better understand what is expected from them.
In February, nearly 600 participants from large and medium-sized companies from across the country took part in three thematic workshops on the topics of accounting and consulting firms, management reporting and integrated reporting.
Providing positive feedback on the events, participants expressed their high level of interest in the topic, seeking further opportunities to deepen their understanding of technical aspects of management reporting and corporate governance.
STAREP is a regional programme funded by the EU under its EU4Business initiative. It aims to create a transparent policy environment and effective institutional framework for corporate reporting within the countries that make up the EU’s Eastern Partnership.