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C Category Auditor Positively Assesses Latest Reforms

Published: February 25, 2013 | 12:36 pm
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Girogi Gabatashvili: “Alternative audit proved to have gained trust among private sector and the frightful feeling turned into collaboration.”

The COMMERCIAL TIMES

C category auditors prevail on the Alternative Audit listing on the website of the Audit Department of the Revenue service of Georgia. The growth number is conditioned because of the vast amount of businesses included in the service limit of this category (Annual revenue not exceeding GEL 300 000).  The COMMERCIAL TIMES interviewed Girogi Gabatashvili, private auditor, regarding the benefits offered by Alternative Audit and in general, the development of the latest developments in this field.

- How big is the demand on C category auditors?

- There’s a big demand on C category auditors since this category includes tax payers whose annual revenue does not exceed GEL 300 000 and Audit Department has no enough resources to check them all. This is why the main burden of auditing such organizations comes on C category auditors.

- How would you assess the competition in audit sector on the local market, in particular, in terms of C category auditors? What advantages do you offer clients?

- In general, the competition in audit sphere is quite tight; especially as far as C category auditors are concerned. Only in Tbilisi there are around 300 private auditors. As for advantages, I offer qualified and fair services to my clients and never let them down.

- Who are your clients?

- My clients are small and medium size enterprises included in C category. However, I also work at New Audit Company Ltd., where, in addition to alternative audit, we provide audit and accountancy services to different organizations.

- How affordable are your services?

- Our services are quite affordable both for SMEs and large companies.

- What type of services are demanded most?

- Audit remains the best demanded service. However, companies also frequently apply our office for accountancy.

- How would you evaluate the initiative of launching alternative audit?

- I believe, this project has been a success both for the government and for private sector. In the past, businesses were looking at audit as something frightful, but this new initiative has change the scarce attitude. Alternative audit proved to have gained trust among private sector and the frightful feeling turned into collaboration. Thus, I think, this successful track will further be followed up.

- You’ve worked for Ernst & Young, the international auditor included in the Big Four, your career also includes job experience at the Audit Department of the Ministry of Finance of Georgia. What’s been the main reason conditioning your becoming a private auditor? Would you say this decision turned out to be a success?

- I worked at Ernst & Young when I was a student and found it hard to combine studies with job. As for the Audit Department, the conditions offered did not meet my requirements. So, I made a decision to start working at a private audit company and I think it was a right step to make. Currently, I’m employed at New Audit Company Ltd., also I’m involved in alternative audit program.

- Do you have concrete initiatives and recommendations in reference to the Ministry of Finance?

- Alternative Audit project is still a new venture and there are lots of issues to work on. As far as I’m aware, the project is being further revised, what I welcome.

 

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