An international conference on “Professional Challenges and Opportunities in Accounting and Auditing” and a General Assembly dedicated to the 30th anniversary of the establishment of the Georgian Federation of Professional Accountants and Auditors were held in Tbilisi, the capital of Georgia, on 29–30 May 2026. Sabukhi Gulmammadov, Executive Director of the Chamber, represented the Chamber of Auditors of the Republic of Azerbaijan at the event dedicated to discussing current challenges in accounting, auditing, financial reporting and professional education.
The conference brought together representatives of professional organizations, government agencies, international financial institutions and audit firms from various countries around the world. The event was attended by representatives of relevant institutions from Azerbaijan, Georgia, the United Kingdom, Estonia, Armenia and other countries, as well as representatives of the International Federation of Accountants (IFAC), the Association of Chartered Certified Accountants (ACCA), the Association of International Accountants (AIA), the World Bank and the Asian Development Bank.
The main objective of the conference was to facilitate the exchange of international experience in accounting and auditing, strengthen professional cooperation, and discuss the development directions of the profession in the context of modern challenges.
As part of the event programme, extensive discussions were held across four panels.
The first panel discussion was dedicated to the topic “Technological Transformation and New Professional Skills”. The panel addressed the impact of artificial intelligence and automation on accounting practices, the model of the professional accountant of the future, and the knowledge and skills required. Regional representatives from the United Kingdom, Georgia and Azerbaijan, as well as representatives of the International Federation of Accountants (IFAC), the Association of International Accountants (AIA), ACCA, PwC Georgia and EY LLC, participated in the discussions.
The second panel was held on the topic “Transformation of Public Financial Management: Implementation of IPSAS Standards and Development of Reporting Systems”. The panel discussed reforms in the field of public financial management, the integration of state-owned enterprises into a unified financial reporting system, treasury services, and challenges arising during the transition to IPSAS standards. Representatives of the Treasury Service of the Ministry of Finance of Georgia, the World Bank’s PULSAR programme, the Asian Development Bank (ADB) and PwC Georgia delivered presentations at the session.
The third panel focused on ensuring audit quality, monitoring mechanisms and the role of professional organizations. The panel provided an exchange of views on audit quality control practices, ensuring compliance with international standards, and the involvement of professional organizations in the monitoring process. Representatives of the Georgian Service for Accounting, Reporting and Auditing Supervision (SARAS), the United Kingdom’s Financial Reporting Council (FRC), the Estonian Auditors Association, AIA and EY LLC participated in the discussions.
The fourth panel was organized on the topic “Professional Education and Ethics: Foundations of Sustainable Professional Development”. The panel discussed continuous professional development, current challenges in the field of professional ethics, and strengthening ethical standards. Representatives of IFAC, AIA, the Georgian Federation of Professional Accountants and Auditors (GFPAA), the Georgian SARAS and Tbilisi State University participated in the session.
As part of the conference, a ceremonial event dedicated to the 30th anniversary of the establishment of the Georgian Federation of Professional Accountants and Auditors (GFPAA) was held on 30 May 2026. Representatives of professional accounting and auditing organizations from various countries, international professional bodies, financial institutions, government agencies and leading audit firms delivered speeches at the event, highly appreciating GFPAA’s 30 years of activity, highlighting the organization’s contribution to the development of the accounting and auditing profession at regional and international levels, and conveying their congratulations on the anniversary.
Sabukhi Gulmammadov, Executive Director of the Chamber of Auditors, also delivered a congratulatory speech, sincerely congratulating the leadership and members of the Georgian Federation of Professional Accountants and Auditors on the anniversary and wishing them success in their future activities. He noted the important role played by the organization in the development of the profession and expressed his confidence that the effective cooperation established between Azerbaijan and Georgia in the fields of auditing and accounting would be further strengthened in the future.
S. Gulmammadov then spoke about the foundations of Azerbaijan’s audit legislation, successful reforms implemented by President of the country Mr. Ilham Aliyev in the context of sustainable development and the green economy, the responsibilities of the audit profession in ensuring sustainability reporting, as well as measures implemented by the Chamber of Auditors to increase young people’s interest in the auditing profession and encourage their broader involvement in the profession.
The event also addressed opportunities for future cooperation among professional organizations, prospects for the development of the auditing and accounting professions, as well as the application of international best practices.
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