Enhancing Accounting and Audit Quality In Georgia
The second study visit to Greece was held in October and featured inspectors and lawyers from SARAS as main participants. It consisted of a series of meetings where representatives from HAASOB and Business Registry Unit of the Hellenic Ministry of Economy and Development delivered presentations about the functioning of their agencies as well as about the public register of auditors and audit firms maintained by HAASOB and the results of the survey carried out by HAASOB on audit committees, all followed by relevant discussions.
In the course of the visit the inspectors also participated in an advanced IFRS and IT inspections workshop organized by the Committee of European Auditing Oversight Bodies (CEAOB) and hosted by HAASOB. The lawyers, who stayed in Athens for 3 days, attended thematic seminars covering the issues related to International Accounting Standards, International Standard on Quality Control 1, dispute resolution and litigation processes.
Participants from the Auditing and Professional Education Supervision Department of SARAS gained a deeper understanding of practical aspects associated with the implementation of EU Directives and Regulations. Furthermore, they learned about best international practices in developing the legal framework for audit and accounting profession, the significant role that audit committees play in Greek companies, the key topics of IFRS9 and IFRS15 and other related matters.
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