Parliament approved the conduct of audit activities in Ukraine according to EU standards

The Verkhovna Rada adopted the law “On audit of financial statements and auditing activities”. According to him the norms of national legislation in the sphere of audit activities are in compliance with EU legislation.

By taking the whole of bill No. 6016-d voted 229 deputies, reports UKRINFORM.

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This law defines the legal framework of financial audit, implementation of audit activity in Ukraine and regulates relations arising during its production.

Auditors are prohibited to engage in direct other, are not compatible with auditing activities, business activities. Along with this, the auditors can engage in social, educational, teaching and scientific activity, preparation of publications to obtain the appropriate remuneration.

The law provides that all auditors and audit activity are subject to public supervision.

Responsible for the public oversight of audit activity in Ukraine is On public audit oversight, which is composed of the Board of audit oversight and Inspection for quality assurance.

The decision on early termination of powers of members of the Board of the Audit chamber of Ukraine and the decision to delegate new members of the Board of the Audit chamber of Ukraine takes the Congress of auditors.

Provides that the act will enter into force on 1 January 2018 and will run from 1 October 2018.

Parliament approved the conduct of audit activities in Ukraine according to EU standards

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