On October 6th, 2022, Michal Zubrycki and Katarzyna Sokowicz from BR-AG conducted a workshop to kick-off the Feasibility Study of XBRL Standard Implementation in Georgia. The event was hosted under a project funded by The World Bank and initiated by the Service for Accounting, Reporting, and Auditing Supervision (SARAS) in Georgia.
XBRL, an open international standard for exchanging business information, promotes transparency and leads to better decision making. The BR-AG experts emphasized the benefits of using XBRL such as facilitating data comparability, alignment with international standards, and improving data quality and reliability.
In the digital age, XBRL is a highly regarded global standard and Georgia recognizes its importance in keeping up with the pace of digitizing data. The Government of Georgia is among those, who are taking the first steps in this direction. Reaching the maturity level in XBRL usage means designing XBRL introduction responsibly, whether entity/authority just getting started or getting ready to scale.
Discover more about our partnership with SARASÂ and the latest workshop on the Final Feasibility Study Results of the XBRL Standard Implementation conducted by BR-AG!
