- July 3, 2018
- Posted by: tornike
- Category: news
Savvy is the winner of the “International Financial Reporting Standards (IFRS) for Small and Medium Enterprises (SMEs) Capacity Building” project, funded by USAID “Governance for Growth” (G4G). This project aims to build the capacity of Georgian trainers and to increase awareness of IFRS for SMEs in Georgia.
The main beneficiary of the project is the Service for Accounting, Reporting and Auditing Supervision (SARAS) of Ministry of Finance.
The reason for this initiative due to the Law on Accounting, Reporting and Auditing, passed in 2016 by the Government of Georgia. According to the Law, the companies, registered in Georgia should conduct financial reporting in accordance with IFRS.
Benefits associated to the project:
- The IFRS for SMEs training in Georgia conducted by an Independent Accounting Education and training consultant – Michael Wells;
- Additional training for another 50 Georgian speaking trainers conducted by retrained IFRS for SME experts;
- IFRS for SME training materials translated in Georgian, which will be an additional advantage and support for SMEs to prepare their financial reports in accordance with the Standards.
Based on our activities, we are honored to implement this project. SavvY is vigorously supporting this reform since 2016 through different activities such as:
- The consulting service of IFRS implementation in corporate as well as SME sized companies;
- Public and corporate trainings in IFRS, which are adapted to Georgian reality;
- Field activities in regions of Georgia to increase awareness and competence of IFRS;
- Online platform – IFRS expert, which answers all the individual questions regarding financial reporting standards.