---
title: "Compliance Audits"
url: "https://legal.ge/en/service/corporate-and-commercial-law-en/compliance-audits-en"
field: "Corporate & Commercial Law"
description: "Financial statement audit under Georgia’s accounting law: arts 6, 14, 15 and 19 — obligation, standards, conduct and quality control. Legal.ge."
reviewed: "2026-07-09"
updated: "2026-10-15"
publisher: "legal.ge"
---

# Compliance Audits

> Source: legal.ge, https://legal.ge/en/service/corporate-and-commercial-law-en/compliance-audits-en

## Compliance Audits Under Georgian Law: Which Statute Governs

The internal-control audit model familiar from United States securities legislation is not Georgian law and cannot carry a Georgian page. In Georgia the legal regime of audit is defined by the Georgian law on accounting, reporting and audit: it decides who must have financial statements audited, by which standards the audit is conducted, and what quality controls govern the auditor. The four articles behind this page refresh four distinct angles: coverage, standards, conduct and quality.

For a company this means audit plans and budgets must start from this law’s requirements rather than from foreign practice analogies.

The full text is available on legal.ge after signing in: https://legal.ge/en/service/corporate-and-commercial-law-en/compliance-audits-en

### Is the audit mandatory or voluntary?

Both — Article 15 allows audits under Article 6 or on the subject’s initiative; large subjects are audited every reporting period.

### Are third and fourth category enterprises exempt?

Yes, unless legislation provides otherwise; interim-audit requirements for regulated enterprises come from sectoral law.

### For how long are audit documents retained?

For 6 years from the end of the reporting period.

### By which standards is audit conducted?

International standards on auditing; updated standards enter into force within 6 months.