The company has brought a sound contribution to the local accounting reforms since the very roots of it. It is worth to mention that, since the commencement of the major account reforms in Armenia, following the adoption of the RA Government Decree No 740 in 1998, the company’s specialists were among the few professionals involved in the small group of the most skilful accountants formed to realise these reforms and to develop and form the new accounting field of Armenia.
Particularly the following legal acts were developed with TM Audit participation:
- The RA Law “On Accounting”;
- The Accounting Standards of the Republic of Armenia;
- The Companies' Chart of Accounts;
- The package of financial statements;
- Illustrative forms of primary accounting documents, accounting ledgers and so on.
The Company’s specialists directly participated in drafting the Accounting Standards of the Republic of Armenia, Chart of Accounts, Financial Statement Package, initial accounting documents and registers. They give lectures in a number of educational institutions and organisations.
In 2009 again our professionals were deeply involved in the official translation process of IFRSs (International Financial Reporting Standards) being experts of the reviewing committee of translations and IFRS translators.
In 2002-2003 TM Audit's staff was widely involved in the research of the RA higher education and public health systems. The following legal acts were drafted with our participation, which were aimed at structural accounting reforms in these fields: the RA Government decree N 2173-N “On the program of activities for improvement of financial management, accounting and financial statements in the RA higher education institutions” and the RA Government decree N 1156-N “On Affirmation of the necessary documents for carrying out the program of activities for improvement of financial management, accounting and financial statements in organizations that implement hospital medical aid and services”.
Our professionals are authors and co-authors of more than twenty books on the new accounting system and papers, as well as have edited and examined lots of professional books.
Our Consultants have provided trainings in various higher education institutions, professional organisations on legislation regulating accounting and tax concerns (in which thousands of trainees participated).