IFRS for SMEs
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IFRS for SMEs

Amendments made to the Law of Georgia on Accounting, Reporting and Auditing in 2016 made it mandatory for companies to prepare their financial statements in accordance with either full IFRS or the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs). Consequently, companies in the SME sector now face the necessity of transforming and aligning their accounting systems with IFRS for SMEs requirements.

What We Offer:

We examine your company’s existing accounting system, develop internal control mechanisms, transform the accounting framework to IFRS for SMEs compliance, and provide comprehensive support throughout the external audit process.

  • Analysis of the company’s current accounting system
  • Development of procedures for internal control mechanisms
  • Creation of an accounting policy in compliance with IFRS for SMEs standards
  • Transformation (restatement) of opening balances to meet IFRS for SMEs requirements
  • Preparation of financial statements in accordance with IFRS for SMEs
  • Training and professional development for the financial department staff
  • Full support during the external financial audit process
  • Post-implementation monitoring and ongoing consultation

As a Result, You Will Receive:

An accounting system in compliance with IFRS for SMEs standards and streamlined processes. You will be able to correctly assess risks, which will help you make the right decisions in the future and facilitate communication with both local and foreign investors.

Ready For Transformation?

Our experts are ready to develop a tailored strategy that fully addresses the specific needs and challenges of your business.

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