On June 6, the Accounting Chamber of Ukraine made a historic decision: the activities of the Accounting Chamber of Ukraine (hereinafter – ACU) will be carried out in accordance with the requirements of the INTOSAI Framework System of Professional Provisions (IFPP) – INTOSAI Principles, Standards and Guidelines.
Also, members of the Accounting Chamber approved new methodologies for compliance and performance audits, developed according to the international ISSAI standards.
The project “Strengthening Capacities in External Audit in Line with International Standards in Ukraine” (EU4ACU) welcomes this significant step. This decision not only brings the activities of the ACU on a qualitatively new level, but also brings Ukraine closer to EU membership, because the external audit reform is one of the important requirements of the European Union for Ukraine to get EU membership.
The EU4ACU project developed and provided the ACU with a methodology for three audits – financial, compliance and performance audits. We expect that in the future the ACU will strengthen institutionally by introducing a quality control system and improving interaction with stakeholders. One of the directions on which representatives of the ACU and experts of the project are working together is the implementation of a new competencies framework in line with the ISSAI 150 standard.
EU4ACU “Strengthening the capacity of external audit in accordance with international standards in Ukraine” is a part of the program “Development of external audit and control of public finances in Ukraine” (EU Public Finance Management Support Programme for Ukraine).
The project is funded by the European Union and implemented by DAI, aiming to ensure more efficient oversight of public resources through enhanced capacities in external audit of budgetary funds by the ACU.