ქართული (საქართველო) English (United Kingdom)

Adoption of IFRS for SME/preparation of financial statements

General description

The amendments introduced to the accounting, reporting and auditing law in 2016 required the companies to prepare their financial statements in accordance with full IFRS standards, as well as the IFRS for SMEs international standards for small and medium-size entities.

In view of the aforesaid, the companies have faced the need for transformation of the existing accounting system to the IFRS for SMEs standards.

We offer

analysis of the accounting system available in the company; elaboration of the control mechanisms and transformation of the accounting system to meet the IFRS for SMEs standards, as well as support in the audit process;

    • company’s accounting system analysis
    • elaboration of the company’s control mechanism procedure
    • development of the accounting policy in accordance with the IFRS for SMEs standards
    • transformation (adjustment) of the company’s starting balance to meet the IFRS for SMEs standards
    • preparation of financial statements in accordance with the IFRS for SMEs standards
    • retraining of the financial service staff
    • support in the financial audit process
    • follow-up monitoring

As a result, you will get

the accounting system that will meet the IFRS standards and well-organized business processes; you will be able to adequately assess the risks, which will further help you make right decisions, as well as will make it easier for you to communicate with both, the local and international investors;