The workshop was hosted by the Georgian MOF. The event was attended by 96 participants from 12 countries, including 11 PULSAR beneficiary countries (Albania, Armenia, Azerbaijan, Bosnia and Herzegovina, Georgia, Kosovo, Moldova, Montenegro, North Macedonia, Serbia, and Ukraine), and Kazakhstan.
The overall aim of the series is to increase the audit profession's capacity to deliver high-quality training and continuing professional development (CPD) programs based on the Standards of the International Auditing and Assurance Standards Board® (IAASB®). In particular, the workshop series focuses on the needs and challenges of Small and Medium-sized Practices (SMPs) to implement International Standards. The series is conducted with the support of the International Federation of Accountants® (IFAC®).
A World Bank Centre for Financial Reporting Reform (CFRR) workshop in Vienna on October 24 and 25, 2017, reviewed the role of accounting and auditing regulation and specifically how better enforcement can help improve compliance with audit standards, namely international accounting standards (ISA). It also considered the contribution of non-financial reporting and ensuring adequate requirements are in place.
Georgian businesses will prepare and publish management reports for the first time, starting 2018. This implementation step in accounting and audit reform contributes to increased transparency of Georgian market, expanding investment prospects and simplifying access to credit.