SARAS Adopts a New Normative Act

On 3 May 2023, the Head of the Service for Accounting, Reporting and Auditing Supervision of the Ministry of Finance of Georgia issued the Order No.3 on Approving the Rule on Maintaining the State Registry of Accountants Providing Professional Services and the State Registry of Accounting Firms electronically, Their Structure and Design, the List of Information and the User Identification Procedure. 

The rule determines the procedure for maintaining the electronic registers of accountants and accounting firms providing professional services, their structure and design, the list of information contained therein, the procedure for identifying users, the parties participating in the procedure, their rights and obligations.

The aim of the rule is to identify and register the obliged entities subject to the supervision of SARAS under the Law of Georgia on Facilitating the Suppression of Money Laundering and Terrorism Financing which will, on the one hand, contribute to raising the awareness of the aforementioned entities and facilitating their compliance with the Law and international recommendations, and, on the other hand, to the proper functioning of the risk-based supervision of SARAS with effective legal mechanisms.  

For detailed information, please visit the following link.

We would like to inform you that the registers will be available on the SARAS website from 29 May. In addition, on 25 and 29 May, SARAS will organise events related to the rule of the maintenance of registers in electronic form. Information on these events will be published on the SARAS website.