Amendments to the legislation on the Accounting Chamber were discussed with the European Parliament

Strengthening the independence of the Accounting Chamber, increasing the efficiency of its work, expanding its powers, and improving the mechanism for monitoring the recommendations provided. These and other key legislative changes that will take place after the entry into force of the draft law No. 10044-d adopted by the Verkhovna Rada of Ukraine were discussed by Kyrylo Klymenko, a Member of the Accounting Chamber, during the regular joint online meeting of the Budget Committee of the Verkhovna Rada of Ukraine and the Budget Control Committee of the European Parliament. The event was held on 5 December.

‘The amendments to the Law on the Accounting Chamber are a significant step forward in strengthening the institutional framework for efficient public financial management in Ukraine. This reform is in line with international standards and recommendations of the IMF and SIGMA, promoting transparency, accountability and effectiveness of public expenditure oversight. In addition, the law will strengthen trust in the management of public resources and contribute to the European integration of Ukraine,’ Kyrylo Klymenko said.

Kyrylo Klymenko also noted that according to the conclusions of SIGMA (Support for Improvement in Governance and Management, a joint initiative of the European Union and the Organisation for Economic Cooperation and Development) and the European Commission Enlargement Report 2024, the amendments to the Law of Ukraine ‘On the Accounting Chamber’ ensure a higher level of independence, while certain tasks remain relevant, in particular, the need to enshrine the status of the supreme audit institution at the constitutional level.

In addition to reforming the system of state external financial control, Ukrainian and European parliamentarians discussed budget forecasting, amendments to the anti-corruption policy legislation, and cooperation between anti-corruption bodies of Ukraine and the EU. 

In March of this year, during the online meeting of the Budget Committee and the Committee on Anti-Corruption Policy of the Verkhovna Rada of Ukraine, as well as the Committee on Budgetary Control of the European Parliament, the Accounting Chamber discussed the measures of state external financial control over the use of loans and assistance from foreign countries and organisations, which covered UAH 760.2 billion, and the algorithm of cooperation between the Accounting Chamber and law enforcement agencies.