Ukraine : Accounting and Auditing

World Bank

Washington, DC

关键词: ACCOUNTING;    ACCOUNTING POLICIES;    ACCOUNTING PRACTICES;    ACCOUNTING PRINCIPLES;    ACCOUNTING RECORDS;   

RP-ID  :  35190

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This report provides an assessment ofaccounting and auditing practices in Ukraine, within thebroader context of institutional capacity available, forensuring high-quality financial reporting. Since itsindependence in 1991, Ukraine has made commendable progressregarding accounting and auditing standards, especially inthe banking sector. Nonetheless, gaps exist betweenUkrainian and International Accounting Standards (IAS),whereby compliance with Ukrainian accounting standards donot result in the same level of transparency, andcomparability in financial statements that IAS mandates.These gaps include accounting standards applicable tocommercial, and industrial enterprises (especiallydisclosure requirements), insurance companies, and, to alesser extent, credit institutions. In addition, severalinstances of non-compliance in the application of UkrainianAccounting Standards were noted. These were compounded bysometimes ineffectual mechanisms for enforcing compliance.Compliance gaps were noted in all sectors, althoughcompliance by large credit institutions appears to be betterthan average. Although Ukrainian Standards on Auditing wereassessed to be largely consistent with InternationalStandards on Auditing (ISA), the analysis detected someimportant differences. Furthermore, the legal auditingframework is unclear, and sometimes conflicts with theauditing standards. In addition, the assessment detectedinstances of non-compliance with Ukrainian Standards onAuditing; in this regard, the existing enforcementmechanisms require improvement. Immediate steps arerecommended to ensure effective enforcement of establishedstatutory requirements and auditing standards. The reportprovides policy recommendations, specifically focusing onstrengthening enforcement mechanisms to ensure compliancewith established accounting and auditing requirements.Moreover, suggestions have been made for important elementsof a regulatory framework for the auditing profession,namely, restructuring the statutory regulator of theauditing profession under an effective governance structure.