Properly maintaining, preparing and submitting financial statements is an important part of business transparency and financial management. In Georgia these processes are governed by the Law of Georgia on Accounting, Reporting and Auditing, which sets out the core legal requirements both for preparing and submitting financial statements and for conducting audits.
The legislation regulates:
- the core principles of accounting and reporting;
- the requirements for preparing and submitting financial statements;
- the conditions and procedures for auditing financial statements.
Accounting and financial reporting in Georgia are based on current legislation and related regulations. When preparing financial statements it is important to follow the requirements of the applicable international and national standards.
The applicable standards cover both the public and the private sector. In the private sector these include International Financial Reporting Standards (IFRS), IFRS for Small and Medium-sized Entities (IFRS for SMEs) and local financial reporting standards for non-commercial legal entities.
Preparation and compilation of financial statements
Compilation means preparing financial statements from the company's financial information in line with current legislation and the applicable accounting standards.
Complete, accurate and standards-compliant financial statements help a business present its financial position correctly, support key management decisions and build trusted relationships with investors, partners, financial institutions and other stakeholders.
IG GROUP's team offers a full range of financial reporting and compilation services, tailored to each company's industry, scale and individual needs.
Our aim is for clients to receive properly prepared, complete and reliable financial information that meets the requirements of both the law and the applicable accounting standards.
Our services include
- preparation of financial statements;
- compilation of financial information;
- ensuring financial statements comply with applicable standards;
- analysis and processing of accounting data;
- support with the procedures required to submit financial statements;
- financial and advisory services tailored to the company’s needs.
IG GROUP — accurate financial information, reliable decisions, more opportunities for your business.