Georgia takes next steps towards XBRL implementation

Posted on November 3, 2025 by Editor

The Service for Accounting, Reporting and Auditing Supervision (SARAS) of Georgia officially kicked off its XBRL implementation journey with a week of in-depth workshops held earlier this month.

With support from the World Bank, these sessions brought together SARAS and Ministry of Finance staff to dive deep into XBRL-enabled reporting under the banner of "Embracing Digital Financial Reporting."

Led by XBRL expert Stuart Rowan, the workshops explored the nuts and bolts of XBRL; from taxonomy design and architecture to validation processes and integrating structured data into analytical systems. The focus was not just technical, but strategic: building capability to deliver high-quality digital reporting, supported by certified tools and aligned with modern regulatory expectations.

This initiative marks the beginning of Georgia's transition to XBRL, part of a broader ambition to modernise its financial reporting landscape and something that the country has been exploring for several years now. SARAS plans further engagement with stakeholders and enterprises to ensure a smooth and inclusive rollout. The goal? Streamlined supervision, better data quality, and greater transparency.

Georgia's gradual and thorough capacity building programme reflects best practice in XBRL implementation, and we hope to see a successful rollout of the standard following soon. With this initiative, Georgia is tapping into the global trend of structured, machine-readable data to drive efficiency and increase international investor access and confidence in Georgian markets.

Find out more about SARAS' digital reporting strategy here.