
All
companies in Georgia, including
sole traders, have to perform certain
accounting procedures, which can depend on the legal entity under which the respective business is operating. However, in the case of
sole proprietorships, the
accounting regulations applied by the local authorities require a
minimum number of documents, as this business form benefits from simpler rules in this case. The investors interested in
company formation in Georgia will need to comply with a set of
accounting standards and
audit procedures. It is important to know that
Georgian companies have to complete
bookkeeping documents and
financial records and
our team of specialists in company formation in Georgia can assist on these procedures.
Accounting services in Georgia
Legal entities in Georgia can perform their
acccounting duties by
hiring accountants who can manage such activities. At the same time, such
companies can also request the
assistance of our accountants for services such as:
• bookkeeping;
•
maintaining the
company’s financial statements;
• preparing financial statements.
Our team of accountants in Georgia can assist
foreign and local companies in maintaining the above mentioned documents in accordance with the applicable legislation, which is given by the
Law on Accounting and Financial Audit.
Investors can also receive assistance in completing audit procedures as well. Audit services can be used for measuring the performance of a business in a given time. Furthermore, our accounting services also include professional assistance on mergers and acquisitions or company liquidation.
Georgian law for accounting procedures
The Law of Georgia for Accounting and Financial Audit provides the legislative framework related to the manner in which companies have to prepare and present the financial statements and keep company’s accounts.
The legislation for private entities stipulates that regulations for accounting procedures are also given by international accounting standards - such as IFRS, which are adopted by the International Accounting Standards Board.
Audit procedures are to be handled as mentioned by the Article 5 of the law, which states that they have to be performed following the requirements of the International Standards on Auditing.
Foreign businessmen are invited to
contact our team of consultants in company formation in Georgia for in-depth advice on
our accounting services.
Comments
Bertha 2018-01-08
Hello, I would like to know more on how to prepare the company's financial statements and other accounting documents.