Legal principles of auditing in Ukraine defines the Law of Ukraine «On audit of financial statements and auditing», adopted December 21, 2017. The law defines that “auditing” means an independent professional activity of auditors and audit entities on the provision of audit services. Auditing services include auditing accommodation, review of financial data reporting, consolidated financial statements, other assurance tasks, and other professional services provided in accordance with international auditing standards.
The purpose of the professional self-regulation of auditors covers uniting on a professional basis of auditors’ efforts to fulfil their responsibilities assigned to them by Law and ensuring their rights, representation of the professional interests of auditors in state authorities, 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.
The professional self-government of auditors operates on the principles of lawfulness, transparency, independence, democracy, collegiality, election, mandatory membership of auditors and implementation of decisions of bodies of professional self-government taken in the framework of their authorities, ensuring equal access of auditors to participation in professional self-government.
The professional self-regulation of auditors is carried out through the Audit Chamber of Ukraine, that acting through such organizational forms of audit self-government:
Congress of auditors of Ukraine
Board of the Audit Chamber of Ukraine
Commissions of the Audit Chamber of Ukraine
Regional Offices of the Audit Chamber of Ukraine