The Accounting Chamber will involve external experts in conducting control activities

The Accounting Chamber will involve specialists, auditors or experts in the implementation of state external financial control (audit) measures if special knowledge and skills that are not possessed by regular auditors are required to resolve the issues under investigation. The procedure for involving the aforementioned specialists to ensure the fulfillment of the powers of the Accounting Chamber was approved at the meeting on January 14.

The document was prepared taking into account the amendments to the Law of Ukraine “On the Accounting Chamber” adopted by the Verkhovna Rada of Ukraine and the proposals of independent structural units of the Accounting Chamber. 

In accordance with the provisions of the approved Procedure, a member of the Accounting Chamber may initiate the involvement of external specialists during the implementation of a financial audit, performance audit (efficiency),compliance audit, examination, analysis and other measures of state external financial control (audit). The procedure also defines the rights and obligations of the involved specialists, as well as the system for registering their participation in the audit.

The involvement of specialists can take place both at the planning stage and if necessary during the implementation of the state external financial control (audit) measure. In this case, the involved specialists cannot be managers, deputy managers, or members of control groups. At the same time, they must have special knowledge and skills, high qualifications and appropriate education, confirmed by certificates, licenses or other documents, as well as proven work experience in the field in which the audit is conducted. 

Specialists can be engaged both on a paid and free basis with the conclusion of a service agreement, as well as on the basis of the provisions of a memorandum, cooperation agreement, etc. concluded between the Accounting Chamber and the relevant body, institution (organization),business entity.

To ensure independence, the engaged specialist will have to sign a certificate of independence and a statement of compliance with ethical requirements.

At the same time, the document describes restrictions under which specialists cannot be involved in the audit, including due to the presence of administrative penalties for committing a corruption offense.