Analysis of Accounting and Control in Georgia

Abstract

The article “Analysis of Accounting and Control in Georgia” discusses the legislative and normative acts of regulation of accounting and control, key issues of control in organizations’ activity, issues of improvement for accounting and control regulation. It also discusses the issues of improvement of the united system of financial control. The 2015-2017 survey report presented by us analyzes the condition and challenges of the internal financial control system and the hindering factors of its development. At the initial stage of the survey, a detailed selection scheme has been made up, which included the organization selected for characterization of internal financial control. We have emphasized problems on the one hand and - best practices on the other. We discussed issues that are equally problematic for organizations. The relevance of the article’s topic is caused by problematic issues related to the control in the institutions. A successful business is impossible without finance control and management skills. Although the Audit Service has been set up, which replaced the Chamber of Control, a united system of control and monitoring of budget funds has not been established yet. Control, which is mainly undertaken by state structures, is characterized by the necessity of detecting and eliminating violations. Whereas while the conclusion of the results of audit account of the financial accountancy, the issuance of recommendations and negative feedback in case of certain circumstances is done.