Savvy is the winner of the "International Financial Reporting Standards (IFRS) for Small and Medium Enterprises (SMEs) Capacity Building" project funded by USAID "Governance for Growth" (G4G). This project aims to build the capacity of Georgian trainers and to increase awareness of IFRS for SMEs in Georgia.

The main beneficiary of the project is the Service for Accounting, Reporting and Auditing Supervision (SARAS) office of the Ministry of Finance.

The reason for this initiative is the Law on Accounting, Reporting and Auditing adopted by the Georgian government in 2016. Under the new law, companies registered in Georgia must prepare their financial reporting in accordance with IFRS.

Benefits associated with the project:

IFRS for SMEs training in Georgia, conducted by an Independent Accounting Education and training consultant - Michael Wells;
Additional training for another 50 Georgian-speaking trainers delivered by retrained IFRS for SME experts;
IFRS for SME training materials translated into Georgian, providing an additional benefit and support to SMEs in preparing their financial reports in accordance with the standards.

Because of our activities, we are honoured to carry out this project. SavvY has actively supported this reform since 2016 through various activities such as:

Consulting on IFRS implementation in corporate as well as SME-sized companies;
Public and corporate trainings on IFRS adapted to the Georgian reality;
Field activities in the regions of Georgia to increase IFRS awareness and competence;
Online platform - IFRS Expert, which answers any individual questions on financial reporting standards.

SavvY participated in a trade mission organized by The USAID Economic Security Program and JSC Bank of Georgia to expand into the Uzbekistan market.