THE ISSUES OF ACTIVITY ACCOUNTING AND AUDIT REGULATION IN GEORGIA

Abstract

The key issues of the activity accounting and audit regulations existed nowadays in Georgia and correspondingly, legal alternations conducted concerning above-mentioned issues are given in this scientific study. The goal of this study is to reveal the importance of the role of the audit and activity accounting in the modern management system. Wherein it does not satisfy only with the registration of economic operations, but as well represents a significant instrument of the financial information, represents the main connection between the economic activity and the entities, which has a great importance in the functioning of the economic units in order to make correct management decisions.

The objective of the study is to show the existing experience in the fields of the activity accounting and audit in Georgia. The criteria of the accountant professional recognition in compliance with the alternations carried out currently relying on the legislation basis.

At the moment, in Georgia it is pressing issue to share the international experience and accordingly, its implementation into the fields of the activity accounting and financial statements. Coming out from this, in the scientific study is discussed the world concepts established in the fields of the modern activity accounting and audit, among them are the experiences of the European countries and the U.S. regarding this direction. Is represented the approved approaches of the world practice concerning the recognition criteria of the profession of an accountant; the main aspects of the social, department and personnel audits; the risks concerning the social audit are stressed. In the scientific study is also described and given the types of audits according to the current Legislation of Georgia as well as the key issues of the internal and outer audits.

DOI: http://dx.doi.org/10.5755/j01.em.18.4.5825