Before we know it 2019 is ending, so it is time to sum up what was done, what results were achieved and whether the right vector of activity was selected last year.
First of all, I would like to wish you Happy New Year and Merry Christmas!
May the next year be fruitful with new achievements, interesting ideas, important assets and professional take-offs. We wish to all of you success in you endeavors, zeal in our hearts and peace in the country!
At the moment, I can say with confidence that 2019 has become a year of significant new achievements for the Union. It is good to see that professional accountants and auditors who are not indifferent to the fate of the profession unite to implement joint initiatives as quickly and efficiently as possible. Since its set up in 2016, CAAU has rallied more than 400 top auditing and accounting professionals and continues to develop and grow in number. As of the end of 2019, the number of CAAU members has reached 411 persons.
Membership in the Union opens up great opportunities and prospects for everyone, such as exchanging experience with colleagues in Ukraine and the world, engaging in interesting projects aimed at professional development, including international ones; constant protection of professional interests, preferential conditions for participation in profile events of CAAU partners and other benefits.
CAAU representatives participate in various professional events and activities throughout the year. In particular, CAAU became an information partner and participant of the 10th anniversary forum “Corruption and corporate fraud: methods of counteraction and compliance strategy”. The anti-fraud event of this scale, level of content and composition of participants was held in Ukraine for the first time. This year, members of the Union also participated in the conference “Corporate governance reform. Role and functions of audit committee” held within the framework of the EU-FINSTAR “Technical Assistance in the Ukrainian Financial Sector’s Priority Areas” project and the event on the role and responsibility of statutory auditors and the status of audit reform.
The participation in these and many other professional activities opens up new opportunities for the members of the union to develop their profession, giving access to the best assets of domestic and international experts.
During 2019 CAAU representatives repeatedly participated in professional roundtables and conferences where they voiced the Unions position among the members of the general public and market leaders. In particular, CAAU Vice President participated in the conference “Role and responsibility of auditors conducting statutory audit of financial statements of PIEs and state of audit reform” held within the framework of the EU-FINSTAR project “Technical Assistance in the Ukrainian Financial Sector’s Priority Areas” funded by the European Union; in the VI Eurasian forum of accountants and auditors, in the conference “International and domestic practice of valuation of assets and financial audit of credit institutions and other entities” and others. The representatives of the Union joined the webinar of the National Financial Services Commission on the annual regulatory reporting of financial institutions in 2019, seminars organized by the Association of taxpayers of Ukraine, etc.
In addition, CAAU has made efforts to enhance the educational attainment of audit and accounting professionals. In particular, an important contribution to the advancement of the profession is the conclusion of a cooperation agreement with the American Institute of Certified Public Accountants (AICPA) for the implementation of world best practices in the daily work of national specialists. The Collaboration Agreement provides for CAAU members access to AICPA training courses and certification programs online at a discounted rate.
By joining the profession development, CAAU is involved in creating the legal basis for auditors and accountants. To this end, the Ministry of Finance submitted comments and proposals for draft normative acts on certification and continuous training of auditors. In particular, it was proposed to make changes to the procedure for auditors' certification, enrollment of theoretical knowledge, continuing professional training of auditors and training of candidates for auditors.
The Union also encourages young people to succeed in the profession. To this end, CAAU for the second time became the organizational partner and sponsor of the All-Ukrainian student academic competition in the discipline “Management accounting” among students of higher education institutions of III-IV levels of accreditation and the All-Ukrainian competition of student scientific and practical works on IFRS thus helping to maximize the creative potential of young professionals in the name of prosperity of the state.
Every day, each CAAU member works not only to improve their skills, but also to contribute to the development of the profession. Participation in the professional community is an additional opportunity to become an accounting and auditing expert, a competitive specialist in Ukraine and abroad, and to be involved in the adoption of the highest world standards in the activity of companies and enterprises. So, thank you to everyone who works for the benefit of our country and, step by step, enhances the image of the country and domestic accounting and auditing professionals in the world.
I believe that there are many outstanding achievements ahead. Let us continue to create a common future together!