Starting from 2017 new legislation will require almost all Georgian companies, both SME and large enterprises to issue the financial statement publicly. The process has already started and all stakeholders are trying to contribute in this process.

The reform will play a crucial role in improving overall transparency and the quality of financial management in Georgian companies. Based on those countries who have already adopted IFRS, it is observed that these standards:Create a transparent, comparable, consistent and effective process in the company;Are the most efficient way of financial process standardization;Enable access to foreign capital and investments;Are relevant and comparable to other local or international companies;Develop financial staff and raise the general level of professionalism and competence.

SavvY Consulting’s IFRS Implementation offers companies of varying scales a clear, simple roadmap for: IFRS Diagnostics; IFRS implementation; Monitoring and audit support.

We realize that not every company requires every element of the IFRS Implementation due to different levels of sophistication, conditions of internal controls, company specifications, etc. For this reason, SavvY can adapt the approach depending on clients needs, time constraints and budget.