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NEWS

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PMCG Joins Professional Services Council to Enhance Collaboration Between Industry and Government

10-May-2019

PMCG Joins Professional Services Council to Enhance Collaboration Between Industry and Government

We are pleased to announce that we recently became a member of the Professional Services Council (PSC), a leading advocate and resource for the government technology and professional services industry.“Being part of the council will give us an opportunity to contribute ...

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PMCG Contributes to Enhancing Parliamentary Oversight in Security Sector

06-May-2019

PMCG Contributes to Enhancing Parliamentary Oversight in Security Sector

We recently completed a European Union project designed to enhance parliamentary oversight in the security sector and to increase transparency by ensuring effective parliamentary oversight of defense and security agencies and improving relevant legislation of Georgia.&n...

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Supporting Enterprise Georgia to Enhance its Institutional Capacity

25-Apr-2019

Supporting Enterprise Georgia to Enhance its Institutional Capacity

We recently launched a new project aiming to strengthen the organizational performance and bolster the institutional effectiveness of Enterprise Georgia.Enterprise Georgia is a subordinated agency of the Ministry of Economy and Sustainable Development of Georgia and it ...

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Supporting Human Rights Education and Monitoring Center (EMC) to Enhance its Institutional Effectiveness

18-Apr-2019

Supporting Human Rights Education and Monitoring Center (EMC) to Enhance its Institutional Effectiveness

We are collaborating with the Human Rights Education and Monitoring Center (EMC) to enhance its organizational structure and performance. The EMC is a non-governmental organization, focusing on the fields of human rights (including social, women’s, and minority rig...

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PMCG’s CEO Shares Experience of Fighting Corruption at IMF Spring Meetings

15-Apr-2019

PMCG’s CEO Shares Experience of Fighting Corruption at IMF Spring Meetings

On April 11, Aleksi Aleksishvili, Chairman and CEO at PMCG, participated in the IMF Spring Meetings Seminar “Curbing Corruption by Improving Economic Governance in the Middle East and Central Asia.”The main goal of the seminar was to identify key areas of economic gover...

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Supporting SMEs to Enhance their Competitiveness on International Markets

11-Apr-2019

Supporting SMEs to Enhance their Competitiveness on International Markets

On March 25, we conducted a training for representatives of small- and medium-sized enterprises (SMEs) regarding various aspects of international trade and development activities under EBRD initiative “Trade Ready.”The main objective of this project as a whole, as well ...

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Building Capacity of Ministry of Regional Development and Infrastructure of Georgia (MRDI) in Research

10-Apr-2019

Building Capacity of Ministry of Regional Development and Infrastructure of Georgia (MRDI) in Research

We recently launched a new project aiming to enhance the efficiency and reliability of the research conducted by the Ministry of Regional Development and Infrastructure of Georgia (MRDI).The project will enhance the capacity of trainees in conducting research by develop...

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Supporting the Ministry of Regional Development and Infrastructure of Georgia to Enhance Business Process Management

08-Apr-2019

Supporting the Ministry of Regional Development and Infrastructure of Georgia to Enhance Business Process Management

We recently launched a new project aiming to assist the Ministry of Regional Development and Infrastructure of Georgia, the Ministry of Internally Displaced Persons from the Occupied Territories, Labor, Health and Social Affairs of Georgia, the Social Service Agency and...

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Supporting Public Internal Control Department (PICD) to Fight Fraud

04-Apr-2019

Supporting Public Internal Control Department (PICD) to Fight Fraud

On March 29-30, we conducted a workshop for public internal auditors at the Public Internal Control Department (PICD) in order to enhance their capacity in fraud detection. The main objective of this workshop was to enable internal auditors to implement fraud detection...

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Assisting Ministry of Environmental Protection and Agriculture of Georgia to Increase the 2019 Budget Allocation for Biodiversity by GEL 300,000

02-Apr-2019

Assisting Ministry of Environmental Protection and Agriculture of Georgia to Increase the 2019 Budget Allocation for Biodiversity by GEL 300,000

We recently supported the Ministry of Environmental Protection and Agriculture of Georgia (MEPA) to engage in successful budget advocacy with the Ministry of Finance and the Parliamentary Committee on Environmental Protection and Natural Resources, thereby increasing th...

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PUBLICATIONS

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Hotel Price Index (March, 2019)

22-Apr-2019

Hotel Price Index (March, 2019)

In March 2019, in Georgia the hotel price index increased by 5.1% compared to February 2019. The prices of hotels in Tbilisi increased by 4.2%. In March 2019, compared to February 2019, the increase of hotel prices in Georgia, can be linked to increased number of tourists tr...

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Hotel Price Index (February, 2019)

14-Mar-2019

Hotel Price Index (February, 2019)

In February 2019, in Georgia the hotel price index decreased by 1.7% compared to January 2019. In Tbilisi, the hotel prices decreased by 1.9%. The decrease of hotel prices in Georgia, can be linked to decreased number of tourists' trips. In February 2019, compared to January 2019...

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Hotel Price Index (January, 2019)

25-Feb-2019

Hotel Price Index (January, 2019)

In January 2019, in Georgia the hotel price index decreased by 3.9% compared to December 2018. Among ten regions of Georgia and Tbilisi, in January 2019, compared to December 2018, the hotel prices increased only in Racha (1.3%). In Tbilisi, hotel prices decreased by 4.2%. In Jan...

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Contributing to the Development of Simplified Financial Accounting and Reporting Standards for Micro, Small and Medium Enterprises

03-Apr-2018

GGF Reporting


Some of the prerequisites of strong and transparent micro, small and medium enterprises (MSMEs) are a favorable business environment, competence, skills, entrepreneurial culture and access to finance.

Limited access to finance remains one of the main obstacles to growth in the MSME sector. Overcoming this challenge would allow MSMEs to develop and expand their production, improve infrastructure, comply with various international and national standards, attract potential investors, develop different skills and increase working capital.

PMCG, in partnership with PricewaterhouseCoopers (PwC), is assisting the Service for Accounting, Reporting and Auditing Supervision (SARAS) under the Ministry of Finance of Georgia to develop new, simplified financial accounting and reporting standards for MSMEs.

GGF Reporting 2

The project was officially launched on March 29 and will be implemented in the following three main stages:

  • Assessment of current regulatory framework, practice and gaps to meet international standards and requirements, and assessment of demand of financial intermediaries for MSMEs’ financial documentation
  • Development of corporate financial accounting and reporting framework for MSMEs and development of self-learning materials for MSMEs
  • Development and implementation of communication campaign to raise awareness about new corporate financial reporting framework


As a result of the collaboration, new, simplified financial accounting and reporting standards will be developed for MSMEs that will ultimately improve the quality and transparency of corporate financial statements, enable easier compliance with obligations, reduce administrative burdens, and provide an opportunity to focus on business growth and access to finance.

The assistance is being implemented under the UK Government Good Governance Fund (GGF) project “Corporate Financial Reporting for Micro, Small and Medium Enterprises”.


Please kindly follow the link below for detailed information about the project:
Good Governance Fund



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