Preparation and Submission of Mandatory Financial Statements for Categories 3 and 4

Legislative Context

In accordance with the Law of Georgia On Accounting and Financial Audit, companies are obligated to prepare and submit financial statements to the Accounting, Reporting, and Audit Supervision Service (SARAS). This law classifies companies into four categories and specifies reporting requirements for each category.

Services of Maven

certified team of Maven provides comprehensive services for the preparation and submission of financial statements for companies in Categories 3 and 4. Our services encompass:

• Preparation of reports: we prepare financial statements in full compliance with both international accounting standards and Georgian legislation.
• Collection and analysis of documentation: we gather all relevant financial documentation and conduct a thorough analysis.
• Completion of reporting forms: we complete all required forms as stipulated by SARAS.
• Consultation: we offer guidance on all matters related to the preparation of the financial statements.
• Submission: We ensure the accurate and timely submission of the prepared report to SARAS.
• Monitoring: We monitor the submitted reports and, if necessary, make any required corrections.

Why Choose Maven?

• Experience: our team possesses extensive experience in the preparation of financial statements. 
• Certified specialists: our team is composed of certified accountants and finance professionals.
• Up-to-date knowledge: we continuously update our knowledgeto stay in line with the latest legislative changes and international standards.
• Individual approach: we take into account the specifics of each client and the characteristics of their business operations.
• Timely service: we ensure the preparation and submission of reports within the legal deadlines.

Key considerations

• Category 3: Reporting for companies in this category is prepared in accordance with the IFRS for SMEs (International Financial Reporting Standards for Small and Medium-sized Enterprises).
• Category 4: For companies in this category, reports are prepared either under the IFRS for SMEs or the Financial Reporting Standard for Micro and Small Enterprises.

The Maven team guarantees that financial statements of your company are fully compliant with applicable laws and accurately reflect the financial position of your business. 

Our objective is to simplify this complex process and ensure your business meets all legal requirements efficiently.