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Memorandum of Cooperation Signed Between SARAS and Public Audit Institute

On May 18, a memorandum of cooperation was signed between SARAS and Public Audit Institute.

The Memorandum aims to improve the quality of audit services through consultations and other methods of mutual assistance such as the development of common approaches and plans, participation in various activities, etc.

For the purposes of the Memorandum, the parties will cooperate in the following areas: implementation of quality management system monitoring and investigation procedures under the Law of Georgia on Accounting, Reporting and Auditing in respect of certified auditors authorized to render audit services as provided for by the Law of Georgia on State Audit Office; and promotion of risk management in the field of public and private sector auditing.