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Board of the Audit Chamber of Ukraine

According to Article 49 of the Law of Ukraine «On audit of financial statements and auditing» the Board of the Audit Chamber of Ukraine is elected by the members of the Audit Chamber of Ukraine at the congress of auditors of Ukraine by ballot vote from the highly qualified auditors with more than five years of experience in auditing.

The total number of the members of the Board of the Audit Chamber of Ukraine is 11 persons.

The term of office of the members of the Board of the Audit Chamber of Ukraine is five years. One and the same person cannot be delegated to the Board of the Audit Chamber of Ukraine for more than two terms. The persons, who were members of the Audit Chamber of Ukraine established in accordance with the Law of Ukraine “On Auditing” for two or more terms cannot be elected to the Board of the Audit Chamber of Ukraine.

The Board of the Audit Chamber of Ukraine represents the interests of the members of the Audit Chamber of Ukraine in the period between the congresses of the auditors.

The Board of the Audit Chamber of Ukraine makes decisions on behalf of the Audit Chamber of Ukraine. The decisions of the Board of the Audit Chamber of Ukraine are taken at its meetings by simple majority of votes under the condition of presence of more than half of its members, with the exception of instances, envisaged by the Law«On audit of financial statements and auditing» and the Charter of the Audit Chamber of Ukraine.

The members of the Board of the Audit Chamber of Ukraine shall perform their duties on a voluntary basis.

The members of the Board of the Audit Chamber of Ukraine are subject to the legislation on preventing and combating corruption.

The members of the Board of the Audit Chamber of Ukraine shall comply with confidentiality requirements in relation to the information, which they may learn in the process of performing the duties envisaged by this Law.

The operating procedure of the Board of the Audit Chamber of Ukraine is defined by the Regulation approved by the congress of auditors of Ukraine.

Following the Regulations on the Board of Auditors of Ukraine, approved by the decision of the Constituent Congress of Auditors of Ukraine of July 14, 2018, the Board of Auditors of Ukraine has the following powers:

make decisions on behalf of the AChU;

considers the issue related to control of the quality of audit services, provided by the audit entities, except those that carry out the statutory audit of financial statements of public interest entities;

regulates relations between AChU members in the process of auditing;

makes a decision about disciplinary proceedings against audit entities, except those that carry out the statutory audit of financial statements of public interest entities;

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

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

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;

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;

ensures protection of auditors’ professional rights;

ensures access and transparency of information regarding auditors of Ukraine.

Regulations on the Board of the Audit Chamber of Ukraine – look over or download