Audit in Georgia

Whether a Georgian company must be audited depends on its size category. SARAS places entities in four categories, and the first and second categories must have their financial statements audited for each reporting period, while the third and fourth are not required to, unless other legislation says otherwise. Public-interest entities such as banks and insurers are treated separately. A start-up subsidiary of a foreign group will usually sit in the smaller categories, but a parent company abroad may still ask for an audit for its own reasons.

Audit is the narrowest service on Accountanty in Georgia, so read profiles with care. Ask which standards the audit follows, whether the firm audits companies of your size, and whether it can do the work in the language your head office reads. An auditor should not also prepare the accounts it checks, so ask how the firm separates the two roles.

Nine firms offer audit: six accounting firms, two corporate service providers and one law firm. Six are small, two belong to large networks and one is medium-sized. All nine work in English, seven in Russian and six in Georgian. IT and crypto are the sectors named. Most are based in Tbilisi.