Annex 1. Logical framework matrix Strengthening capacities of the Service for Accounting, Reporting and Auditing Supervision in Programme name and number Technical Cooperation Facility Georgia II ENI/2016/039-337/ Service for Accounting, Reporting and Auditing Supervision, Ministry of Finance of Georgia Total budget: 1.250,000. EUR Financing: 100% 1,250,000. EUR Overall objective Objectively Verifiable Indicators Source of Verification Assumptions (impact) The overall objective of the project is to The relevant legislation amended in accordance SARAS/MoF Reports; support fulfillment of the commitments with the EU provisions; Monitoring/assessment reports by of Georgia in the context of the The necessary operational/procedural international organizations; Association Agreement AA documentation for quality control, inspection Statistics; which will lead to further support and and investigation in place by 2019; AA implementation report; enhancement of effective economic Number of quality audits, inspections and decision making through transparent investigations increased by 20% by 2020; and reliable reporting systems. Number of recognized disciplines per certification programmes increased by 50% by 2020; Specific Objective(s ) (outcome) Objectively Verifiable Indicators Source of Verification Assumptions The specific objective of the project is to Operational Manual, Guidelines; Strong support and support SARAS to establish solid system of Corporate reporting requirements in place by commitment from the senior Lists of participants from various audit quality control and inspection, to enforce 2020; management of SARAS meetings (workshops, trainings, corporate reporting requirements and A long term strategy document for quality discussions) Strong support and application of accounting standards, as well as control, inspection and inspection of corporate commitment from twinning Project documentation (analysis to implement proper recognition process for reporting in place till the end of the project; partner(s) reports, training programmes, professional certification programs and Institutional and human capacity of the SARAS materials, recommendations and Relevant staff of SARAS examination processes and to increase human enhanced in line to the responsibilities and etc.). available and involved in the resource management capacity. requirements of the Law till the end of the process Project interim and final reports; project;
Annex 1. Logical framework matrix Strengthening capacities of the Service for Accounting, Reporting and Auditing Supervision in Georgia Programme name and number Technical Cooperation Facility II ENI/2016/039-337/ Service for Accounting, Reporting and Auditing Supervision, Ministry of Finance of Georgia Total budget: 1.250,000. EUR Financing: 100% 1,250,000. EUR Overall objective (impact) Objectively Verifiable Indicators Source of Verification Assumptions The overall objective of the project is to support fulfillment of the commitments of Georgia in the context of the Association Agreement AA which will lead to further support and enhancement of effective economic decision making through transparent and reliable reporting systems. The relevant legislation amended in accordance with the EU provisions; The necessary operational/procedural documentation for quality control, inspection and investigation in place by 2019; Number of quality audits, inspections and investigations increased by 20% by 2020; Number of recognized disciplines per certification programmes increased by 50% by 2020; SARAS/MoF Reports; Monitoring/assessment reports by international organizations; Statistics; AA implementation report; Specific Objective(s ) (outcome) Objectively Verifiable Indicators Source of Verification Assumptions The specific objective of the project is to support SARAS to establish solid system of audit quality control and inspection, to enforce corporate reporting requirements and application of accounting standards, as well as to implement proper recognition process for professional certification programs and examination processes and to increase human resource management capacity. Corporate reporting requirements in place by 2020; A long term strategy document for quality control, inspection and inspection of corporate reporting in place till the end of the project; Institutional and human capacity of the SARAS enhanced in line to the responsibilities and requirements of the Law till the end of the project; Operational Manual, Guidelines; Lists of participants from various meetings (workshops, trainings, discussions) Project documentation (analysis reports, training programmes, materials, recommendations and etc.). Project interim and final reports; Strong support and commitment from the senior management of SARAS Strong support and commitment from twinning partner(s) Relevant staff of SARAS available and involved in the process
GE_33.docx