On July 11, 1996, the Verkhovna Rada of Ukraine adopted the Law of Ukraine "On the Accounting Chamber", which has actually launched the activity of the official body of independent external public financial control.
The Law was enacted on October 22, 1996. This date is regarded as the Day of establishment of the Accounting Chamber.
At that time the Accounting Chamber was authorized to perform the control only over budget expenditures. The Law, adopted in 2015, has significantly changed the situation and has substantially expanded the functions and powers of the Accounting Chamber to carry out the control over the revenues of the State Budget of Ukraine and their use. And Ukraine has obtained a full-fledged supreme financial control institution – the Accounting Chamber, which is a reflection of a state sovereignty and democracy.
Unlike all other financial control institutions in Ukraine, the Accounting Chamber operates in accordance with its direct constitutional mandates. According to the Article 98 of the Constitution of Ukraine: "The Accounting Chamber shall, on behalf of the Verkhovna Rada of Ukraine, exercise the control over the revenues of the State Budget of Ukraine and the use thereof. The organization, powers and operational procedures for the Accounting Chamber are determined by the law".
The Accounting Chamber consists of nine members appointed by the Verkhovna Rada of Ukraine through competitive selection for a 6 year term.
Nowadays, there are 8 territorial offices of the Accounting Chamber, whose competence extends over several regions.
Chairmen of the Accounting Chamber:
1996-2011 - Valentyn Symonenko
2012-2018 - Roman Mahuta
On March, 2018, the Verkhovna Rada of Ukraine appointed new members of the Accounting Chamber. Valeriy Patskan was elected as a Chairman.