The EU-funded three-year project „Institutional Strengthening of the State Audit Office of Georgia“ aiming to further strengthen the independence and professionalism of the State Audit Office, improved the oversight and accountability of public finances in Georgia. The project consortium was led by GFA Consulting Group GmbH, together with the GIZ Germany and State Audit Office of Latvia.
Project outcomes:
- Existing financial and compliance audit guidelines have been updated in line with the international auditing standards, and audit training modules have been developed having trained 70% of the SAO auditors.
- The audit quality assurance manual has been updated.
- The capacity of the SAO staff has been increased for conducting audit of consolidated financial statements prepared in accordance with International Public Sector Accounting Standards (IPSAS).
- Audit Management System (AMS) has been adapted to the needs of the SAO in compliance with audit guidelines and organizational requirements, and 70% of State Audit Office auditors have been retrained at AMS.
- IT audit guidelines have been developed.
- High level knowledge and experience sharing meetings were hosted for both the SAO and the MEPs at the Supreme Audit Institutions (SAIs) of the Netherlands, Belgium, Finland and Latvia.
