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About AChU

   The legal basis for conducting an audit activity in Ukraine is defined by the Law “On audit of financial statements and auditing”, adopted on December 21, 2017.

    With the aim of joining efforts of auditors on a professional basis for fulfilling their obligations under the law and to ensure their rights, representation professional interests of auditors in the public bodies, local authorities, protection of professional interests and social rights of auditors, promoting professional development of auditors and providing them with methodological assistance, protection of interests of physical persons and legal entities in case of causing them harm as a result of illegal actions or negligence of auditors, and also carrying out self-regulation activities, exists self-government of auditors, that carries out through the Audit Chamber of Ukraine.

   According to Article 47 of the Law of Ukraine “On audit of financial statements and auditing”, the Auditors’ Chamber of Ukraine is a non-for-profit legal entity carrying out professional self-regulation of audit activities and is established to ensure the implementation of the tasks of the audit self-regulation.

   The auditors and audit firms included in the Register are the members of the Audit Chamber of Ukraine.

   The Audit Chamber of Ukraine:

1) carries out registration of auditors and audit entities;

2) controls quality of audit services, provided by the audit entities, except those that carry out the statutory audit of financial statements of public interest entities;

3) regulates relationship between the members of the Audit Chamber of Ukraine in the process of audit activities;

4) carries out disciplinary proceedings against audit entities, except those that carry out the statutory audit of financial statements of public interest entities;

5) controls the on-going training of auditors, with the exception of auditors that carry out statutory audit of financial statements of public interest entities;

6) participates in expert evaluation of draft legislation and regulatory acts on the issues of audit activities;

7) summarizes information on the practice of application of the international standards on auditing and provides recommendations upon request of the audit entities on controversial and complex issues;

8) represents Ukrainian auditors in relations with the state authorities, local authorities, their officials and officers, enterprises, institutions, organizations irrespective of the form of ownership, public associations and international organizations;

9) ensures protection of auditors’ professional rights;

10) ensures access and transparency of information regarding auditors of Ukraine.

   Annually, the Audit Chamber of Ukraine shall receive from audit entities reports about services provided by them, analyse them and submit to the audit public oversight body the summarized information on the activities of these entities and the situation with the audit activities in Ukraine.

   The Audit Chamber of Ukraine can perform other authorities in the manner and under conditions defined by Law “On audit of financial statements and auditing”.

   With the aim of proper performance of the delegated authorities and tasks the Audit Chamber of Ukraine has the right to:

1) access data on an auditor or an audit entity related to performance by such an auditor or audit entity of their professional duties, including the possibility to receive copies of such data;

2) receive from the legal entities and physical entities information about an auditor or an audit entity, related to performance by the auditor or audit entity of their professional duties;

3) carry out inspections of audit entities, with the exception of audit entities that carry out statutory audit of the financial statements of public interest entities, in the part of their fulfilment of professional duties;

4) make proposals to the state authorities on development and implementation of the national policy in the area of auditing;

5) appeal to the court, on the basis of the rules of administrative legal proceedings, on its behalf decisions (regulations, acts of individual action, activity or inactivity of the entities of power authorities) that violate the rights or legitimate interests of members of the Chamber of Auditors of Ukraine;

challenge in court, in accordance with the rules of administrative legal proceedings, on its behalf, the decisions (regulatory acts, individual legal acts, actions or lack of action of the authorities) violating the rights or legitimate interests of members of the Audit Chamber of Ukraine;

6) in the manner, envisaged by the legislation, receive from the audit public oversight body information necessary for the performance of the tasks of the Audit Chamber of Ukraine;

7) conduct inspections of the compliance by the members of the Audit Chamber of Ukraine with the requirements of the Regulation on membership fees approved by the congress of auditors of Ukraine;

8) apply measures of disciplinary responsibility envisaged by this Law to the members of the Audit Chamber of Ukraine;

9) get involved in the international cooperation;

10) use work of employees, define the structure, staffing, number of employees, forms and amounts of payment and  material incentives for their work in accordance with the Ukrainian legislation and within the budget of the Audit Chamber of Ukraine approved in accordance with the requirements of this Law.

   The Audit Chamber of Ukraine has other rights envisaged by the legislation.

   The Audit Chamber of Ukraine shall:

1) perform in a proper manner the delegated authorities;

2) comply with the requirements of the legislation of Ukraine, the Charter of the Audit Chamber of Ukraine and decisions of the audit public oversight body;

3) provide to the audit public oversight body reports and any other information about performance of the delegated authorities;

4) comply with the recommendations provided by the audit public oversight body on actions, which are necessary to be taken for the proper performance of the delegated authorities;

5) carry out registration of the auditors and audit entities in accordance with the requirements of this Law;

6) consider complaints about the actions of the members of the Audit Chamber of Ukraine;

7) ensure, in the manner envisaged by the legislation and the Charter of the Audit Chamber of Ukraine, free access to the information about its activities.

   The Audit Chamber of Ukraine also has other obligations envisaged by the legislation.

   The activity of the Audit Chamber of Ukraine is public. The report on the activity of the Audit Chamber of Ukraine, financial reporting, budget of the Audit Chamber of Ukraine and report on its execution, information on the status of the audit activity in Ukraine, annual work programs and reports on their implementation shall be disclosed on the official website of the Audit Chamber within 180 days after the end of the calendar year.

   The management bodies of the Audit Chamber of Ukraine are:

1) Сongress of auditors of Ukraine;

2) Board of the Audit Chamber of Ukraine.

   The Committee for the quality control of the audit services shall be established in the structure of the Audit Chamber of Ukraine to ensure carrying out the inspections of the audit entities.

   The current operations of the Audit Chamber of Ukraine are managed by the Secretariat. The operating procedures of the Secretariat of the Audit Chamber of Ukraine are defined by the Regulation approved by the congress of the auditors of Ukraine.

   The Secretariat is headed by an Executive Director appointed by the Congress of auditors of Ukraine, who works in the Audit Chamber of Ukraine at the main place of work. The Executive Director shall be non-practitioner.

   The Executive Director under the concluded labour contract is personally liable for the use of the property and funds of the Audit Chamber of Ukraine and the creation of appropriate conditions for activities of the Audit Chamber of Ukraine.

   By the decision of the congress of the auditors of Ukraine commissions from the members of the Board of the Audit Chamber of Ukraine can be established in the structure of the Audit Chamber of Ukraine. The Experts can be involved in the work of a commission, who are not the members of the Board of the Audit Chamber of Ukraine.

   By the decision of the congress of the auditors of Ukraine the regional departments of the Audit Chamber of Ukraine can be established. The authorities and the operating procedures of the regional departments are defined by the regulation approved by the congress of the auditors of Ukraine.

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Audit Chamber of Ukraine Development Strategy  look over / download