Report on the Observance of Standards and Codes on Accounting and Auditing Update : Georgia

World Bank Group

World Bank, Vienna

关键词: INTERNATIONAL ACCOUNTING STANDARDS;    GOOD PRACTICE;    ACCOUNTING PRINCIPLES;    EXTERNAL AUDITORS;    EMPLOYMENT;   

RP-ID  :  ACS13210

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Reports on the Observance of Standardsand Codes (ROSC) Accounting and Auditing (AA) assessaccounting and auditing practices in participatingcountries. They form part of a World Bank and InternationalMonetary Fund joint initiative to review the quality ofimplementation of twelve internationally recognized corestandards relevant to economic stability and private andfinancial sector development (the ROSC Program). Since itsinception in 2000, the ROSC AA program has concludedevaluations of the AA environment in more than one hundredcountries around the world. ROSC AA reports have beenproduced for all countries of the Europe and Central AsiaRegion, except Russia. This report covers the accounting,audit, and financial reporting frameworks as a whole, payingparticular attention to the financial sector, state ownedenterprises, SMEs and audit regulation - key areas that areimportant in the current economic context of Georgia. Withrespect to SOEs, the report focuses on the existingrequirements, standards enforcement, and use of financialreports and statutory audit findings by the Government inits decision making and monitoring of SOEs. This report alsodiscusses SMEs existing financial reporting requirements,and the need to simplify the requirements for the small andmicro businesses. Finally, the report reviews the auditoversight function and a quality assurance system soon to beemployed by Georgia, and provides recommendations to raisethe quality of audit services through the strengthening ofaudit oversight.