On 14th on June, 2017 Infrastructure Construction Companies’ Association has signed an agreement with the audit company “Nexia TA”. As it is known, in order to increase competitiveness of Georgian construction companies and to bring their financial management closer to international standards,
the Ministry of Regional Development and Infrastructure of Georgia and every subject, within the Ministry’s system and management (Roads Department of Georgia, United Water Supply Company of Georgia, Municipal Development Fund of Georgia, Solid Waste Management Company of Georgia LLC, State Construction Company LLC) After 1st October of 2017, the construction of public procurement tender announced for all, with an estimated value of more than 1 000 000, as a registered resident of Georgia, as well as the construction worker suppliers registered overseas, have a mandatory qualification requirement – Audit report of the last year activities. Above-mentioned report must be done, by one of the Top 10 Audit companies (Deloitte; PWC; E&Y; KPMG; BDO; RSM; Grant Thornton; Baker Tilly International; Crowe Horwath International; Nexia.) Based on that, the Association negotiated with the prior Audit companies and due to common interest, suggested them to present their companies and relevant services to Association’s member companies at the General Meeting. After the presentations, representatives of the member companies voted to choose one Audit company with whom they would sign cooperation agreement. At the General Meeting, behind the closed doors, the following companies gave presentations: Crowe Horwath, Deloitte, BDO, KPMG, Price Water Cooper, EY and Nexia. As already mentioned, Nexia was a winner by majority of votes. According to the agreement, Nexia TA LLC offers following services, to members of the association: Assurance services: audit and review, International Financial Reporting Standards (IFRS), Other Assurance Transactions; Tax services: tax audits, tax consultations, settlement of tax disputes, international taxation, transfer pricing, tax planning (optimization), support for tax inspection; Accounting Services: Current Accounting, Current Tax Support, Preparing Financial Statements; Consulting: management, evaluation, transaction support, reporting and budgeting, preparation of business plans, corporate finance; Legal Services: corporate law, labor law, support in legal disputes. The members of association, will get these services with special discounts. Also, it has to be noted that association members are not obliged to use services of Nexia and have right to apply to any other Audit company for services.