Ukraine has several strengths, such asan educated workforce, strong bookkeeping skills, andcommitment to reforms, and a long-term vision of joining theEuropean Union. In order to strengthen existing publicfinancial accountability, Ukraine will need to build on itsstrength by undertaking several measures. Experience in manyother countries shows that several required changes entailreaching political consensus, reforming existinginstitutions, or creating new institutions. This suggeststhat a realistic timetable for improvement in publicfinancial accountability will have to stretch over severalyears and will depend on strong leadership from the top. Themost important areas for action are: bringing revenues underthe scope of independent external auditors; introducing theconcept of internal audit; strengthening the capacity of theAccounting Chamber to conduct financial statement audits;strengthening the accountability of state owned enterprises;introducing international accounting standards for selectedenterprises; adopting international best practices forlicensing of audit professionals; and strengthening thedisciplinary committee of the Chamber of Auditors to provideeffective oversight. Other measures needed are to: traindeparmtnetal staff in implementing program budgeting; fullyimplementing the Budget Code; expediting the implementing ofthe Treasury modernization project; and implementingstandardized automated accounting and reporting systems.
PDF
download
878987797
028-85220240
