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EU urges Ukraine to force reform of audit activity

The EU Delegation noted that the reform takes place out-of-time and encounters opposition
12:23, 16 January 2018

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The EU urged Ukraine to force the reform of the audit activity and implement the draft law 'On audit of the financial statements and audit activity' as the EU Delegation to Ukraine reported at Facebook.

The EU Delegation noted that the reform takes place out-of-time and encounters opposition.

Related: Ukrainian Parliament remains Europe’s ‘largest law spammer,’ - Voters Committee of Ukraine

'We should pitifully note that the reform of the audit activity that takes place in Ukraine out-of-time still encounters opposition. The implementation of the European and international standards in the audit sphere and the supervision over the audit profession is a part of the Ukrainian commitment within the Association Agreement between Ukraine and the EU. In fact, the implementation of the Association Agreement provides the implementation of the new rules, practices and institutes that will be different from the previous in Ukraine. The necessary changes should be deemed openly and positively' the message said.

The EU supported the Government and Ukrainian Parliament Committee for Tax and Customs Policy in the work out of the new legislation for the accounting, financial statements, audit, financial statements and audit activity during the last two years.

Related: Ukraine's membership in EU and accession to NATO - not a prospect for 2018, - Poroshenko

According to EU Delegation, the law will further the investments and international trade.

'We hope that the draft law 'On audit of the financial statements and audit activity' will come into force in the near future and new regulation system for audit activity will be implemented as soon as possible', the message said.

Related: 2018 will be decisive for the EU, - Macron

Earlier the Ukrainian parliament adopted the law 'On audit of the financial statements and audit activity' on December 21, 2017.

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