The Accounting Chamber is testing updated report forms for financial audits

The Accounting Chamber has decided to test updated forms of reports on the results of financial audits that meet international standards.  

The updated report form will provide a clearer view of the overall picture of the audit and an understanding of how the results obtained relate to its purpose.

Three audits will participate in the testing:

- audit of special-purpose financial statements under the project «Investments in Social Protection for Increased Coverage, Sustainability and Effectiveness (INSPIRE)», supported by an IBRD loan;

- financial audit of the High Anti-Corruption Court and

-  financial audit of the State Property Fund of Ukraine.

The updated report forms take into account the proposals of the Project «Strengthening External Audit Capacity in Accordance with International Standards in Ukraine» (EU4PFM),developed taking into account best practices, in particular the National Audit Office of the United Kingdom, as well as the experience gained by the auditors of the Accounting Chamber.

Furthermore, after the completion of the aforementioned audits and consideration of the relevant reports compiled in the updated form, a decision will be made  on the appropriateness of changing the Algorithm for the Accounting Chamber to conduct a financial audit in terms of forming a report on its results.