DevPar Financial Consulting Ltd.
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Project ID - 37
Middle Eastern Region
Country of Republic of Georgia

Introduction of International Accounting Standards (IAS) in Commercial Banks


Picture from Newspaper article of a man standing with 3 women seated at a desk with documents Description
To assist the forty commercial banks to introduce IAS to replace the gosbank system of accounting, and to prepare for, and make, the changeover. Carried out the project with a local team of bank accountants that was formed and trained to provide assistance in the interface with the banks. Seminars were conducted for the banks, an implementation kit was prepared and distributed, and technical assistance was provided through a series of meetings and consultations. As the banking community was shrinking due to increased minimum capital requirements, twenty-six remaining banks were successfully converted to IAS.

 DevPar Financial Consulting Ltd. Project ID - 37
Service(s)
:
 • Financial &
  Capital Market Reform
• Private Sector
  Development
Year
:
 1999-01
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Subject
:
 Introduction of International Accounting Standards (IAS) in Commercial Banks
Funding Agency
:
 EC Tacis Program
Project FINGEO 9801
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Client:
:
 National Bank of Georgia and the Association of Banks of Georgia
Key Staffing:
:
 •  H. Knight
•  R. Westmacott
•  M. Vande Velde
•  N. Armstrong-Flemming
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Country
:
 Georgia, Republic of
Associated Firm/
Organization
:
 GCG Consulting of Georgia
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