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On November 29, a conference was held in Vienna, organized by the CFRR and hosted by the Ministry of Finance of Austria, dedicated to 15th anniversary of the World Bank Centre for Financial Reporting Reform (CFRR). From Georgia, the representatives of the Ministry of Finance, professional organizations, academic circles and SARAS attended the event.
The workshop hosted about 150 delegates from different countries, including senior government officials, international development partners, professional and academic speakers, and experts from key international and EU institutions.
The Workshop aimed to inform policymakers on the recent developments in financial and sustainability reporting, financial auditing in private and public sector; sustain political support for related reforms and provide opportunity for networking and regional exchange of experience.
At the workshop a panel discussion was held on: “International Developments in Financial Reporting and Sustainability Reporting”. The head of SARAS, Mr. Davit Mchedlidze, took part in the discussion, talked about the main achievements in Georgia in this direction and expressed his gratitude to the donor organizations for their help in the implementation of numerous projects. In particular, as a result of the program, the Law and regulations in the accounting and auditing field are more aligned with the EU requirements, the benefits of transparent reporting have become clearer to the public, the awareness of the IFRS standard has raised significantly, the capabilities of SARAS in the direction of audit inspections increased, etc. Mr. Davit Mchedlidze pointed out that important projects for the development of the field are still underway in the country and SARAS will continue to be actively involved in ongoing or planned regional projects that will contribute to the strengthening of the field in the country.