Ekaterine Mikabadze, First Vice Governor of the National Bank of Georgia (NBG), took part in an event marking Accountants' and Auditors' Professional Day, organized by the Service for Accounting, Reporting and Auditing Supervision (SARAS).

In her address, Ekaterine Mikabadze spoke about the importance of high-quality financial reporting and independent auditing. She noted that reliable financial information is essential for making informed decisions, properly assessing risks, improving corporate governance, and strengthening trust in the economic environment.

She emphasized that the quality of financial reporting is particularly important for the NBG's supervisory activities, as assessing the financial position of financial institutions and the risks associated with them requires reliable, comprehensive information prepared in accordance with international standards.

"High-quality financial reporting and independent auditing provide a reliable information base essential to businesses, investors, creditors, and regulatory authorities alike. Transparent and reliable financial information facilitates informed decision-making, proper risk assessment, improved corporate governance, and greater trust in the economic environment," noted Ekaterine Mikabadze.

Ekaterine Mikabadze also highlighted the cooperation between the National Bank of Georgia and SARAS, which has been further strengthened under an agreement signed in 2020. One of the key outcomes of this cooperation is the single reporting portal, Reportal.ge, through which issuers of publicly traded securities can publish their reports and other regulated information under the "one-stop-shop" principle.

In her address, the First Vice Governor of the NBG also highlighted the importance of the Best Annual Report and Transparency Award (BARTA), which promotes a culture of high-quality reporting and transparency among companies.

"Another important example of our cooperation is BARTA. Over the years, this initiative has clearly demonstrated that the goal of regulation should go beyond mere compliance with minimum requirements. Our shared objective is to foster a corporate culture in which high-quality reporting and transparency become integral corporate values," stated Ekaterine Mikabadze.

The event marking Accountants' and Auditors' Professional Day reviewed the outcomes of the reforms implemented in Georgia's accounting, reporting, and auditing sectors over the past decade. As part of the event, four professional organizations were recognized for their contributions to the development of the profession and their long-standing cooperation.

The event was attended by Tsotne Kavlashvili, Deputy Minister of Finance of Georgia; David Mchedlidze, Head of SARAS; representatives of professional organizations; and other industry professionals.