Aimed to determine the legal basis for keeping accounts, preparing and presenting financial statements, and to determine the terms and procedures for financial statements audits, Georgia has adopted a new law on Accounting and Financial Reporting. 

This Law divides entities within four categories and determines the legal basis for keeping accounts, preparing, and presenting financial statements, as well as auditing financial statements in Georgia. 

To easily understand the new law requirements, we have created a Guide through the law on Accounting, Audit and Reporting.