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26.7 27.25
Politics 2019-05-15T05:01:19+03:00
Ukrainian news
EU Expecting Bill On Financial Reporting, Audit Taking Effect Soon

EU Expecting Bill On Financial Reporting, Audit Taking Effect Soon

The European Union expects the bill on financial reporting and financial audit comes in effect soon.

The Representative office of the EU to Ukraine has written this in a statement published on Facebook, Ukrainian News Agency reports.

As Ukrainian News Agency earlier reported, on December 21, the Verkhovna Rada adopted as a whole the bill on audit services and financial reporting.

The bill obliges large and medium companies of significant public value to publish their audit reports on the Internet in order to increase transparency of the audit service.

In addition, the bill aims at increasing the quality of auditing services in Ukraine by brining the regulations of the Ukrainian financial reporting system in line with the International Financial Reporting Standards.

The bill envisages creating a completely new body that will publicly oversee the auditing services.

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