All-Ukrainian research and practical conference was held in the Ukrainian House on March 1, 2017. The conference was organized by the Chamber of Auditors and Accountants of Ukraine (hereinafter – CAAU) and the Association of Auditors of Ukraine (hereinafter - AAU). The event participants discussed directions of audit reforming in Ukraine in the context of recent legislative changes.
The Conference participants expressed their vision of the future development of the domestic system of regulatory and supervision of audit activities, its international recognition and achieving the professionalism and transparency of Auditors’ activity in order to raise the prestige of the profession.
Natalia Haievska, President of the Ukrainian Professional Public Organization “AAU”, spoke about the model of audit regulation, based on international experience and domestic practice. During the report Mrs. Haievska pointed out the auditing aspects that require to be regulated, in particular, it was stressed that the priority was the regulation of internal control system of quality of audit services provision.
Oleksandr Boiko, President of “CAAU” NGO, emphasized the conditions for admission to the profession of auditor and requirements to auditing. In particular, Mr. Boiko focused attention on the necessity of improvement of professional skill systems through diversity of modern education and its continuous updating; free choice of topics, the training centre, teachers; changes in the organization of the learning process and improvement of its quality; view the passage of knowledge improvement and expansion of its forms.
Iryna Kashtanova, General Director of LLC Audit Firm “PKF Audit-finance”, drew attention to the current state of quality control system and outlined the possible prospects of its improvement. In particular, it was noted that the improvement of the system of external audit services quality control was possible by the involvement of disciplinary liability of authorized controllers on quality control for violations of ethical requirements during the inspections.
Valerii Bondar, Managing Partner of Audit Company HLB Ukraine LLC, dedicated his report to the scientific and methodological provision of audit. In particular, he stressed the need to ensure the translation on time and publication of international auditing standards and providing the necessary methodological provision of auditing. The speaker called out the to focus on improving of the regulatory framework of auditing in accordance with the requirements of the European Directive 2006/43/EU, the International Auditing Standards, the Code of Ethics for Professional Accountants, European traditions and values according to the national requirements.
After the event, its participants were able to exchange ideas and to communicate in an informal atmosphere.
Oleksandr Boiko, President of the Camber of Auditors and Accountants of Ukraine
We always welcome events, during which representatives of our profession can get new knowledge, talk and share experiences. All this helps to make informed decisions for the future development of the profession. To my mind, today the main challenge for us is the new law on audit activity. Having signed the Association Agreement with the EU, we are committed to bring the regulatory framework of our country in line with the European Union requirements. Audit is not an exception. However, it is important to take into account rich national experience and provide for a transitional period for adaptation while implementing the European directives. Therefore, such events are extremely important today.