ECOVIS Georgia was awarded the status of a second category Enterprise
The Service for Accounting, Reporting and Auditing Supervision has completed the process of monitoring the quality control system of ECOVIS ATA Finance LLC and as a result of monitoring selected audit transactions and firm policies and procedures, the Service considered it appropriate to award ECOVIS Georgia a second category enterprise status.
The monitoring properly assessed the results of the changes made in the company during the last three years, aimed at offering quality and qualification-oriented assurance services in the local market.
The regulator monitored
Monitoring was carried out by the regulator on two levels: the compliance of the work performed at the audit transaction level with international auditing standards and at the firm level with International Standard on Quality Control (ISQC1) and in terms of compliance with the registration rules.
As a result, the firm has been given the authority to audit public interest entities with certain restrictions that apply to first category PIE companies and groups.
Recognition and success of ECOVIS Georgia's operations are critical important to the firm's further development, which manifests itself in the following:
- The quality and qualification of our services is recognized by a reputable entity that objectively evaluates the work practices and quality control system of firms operating in the local market;
- We are able to give a more confident voice to companies and groups that are looking for qualified alternatives and high quality services
- The company's partners and employees have extensive experience working with microfinance organizations and insurance companies, and to date, due to the lack of PIE status, we have been limited with authority to audit the activities of these companies;
- We have an opportunity to cooperate with state-owned enterprises, which have been granted with PIE status.
- We can offer assurance services related to the fulfillment of investment obligations to interested parties, which is usually authorized for a second or first category enterprises;
- For the companies we already serve, the success of ECOVIS Georgia is an additional argument that their auditor qualifications and quality are recognized by the regulator, which automatically increases the degree of reliability of the audited financial statements for existing and potential investors or other stakeholders;
- With the further development of the capital market, we have the opportunity to collaborate with companies and groups active on the local stock exchange.
If you are looking for a real alternative, book an interview with a company partner and learn more about what ECOVIS Georgia has to offer!