C A C U A TO R S
On Amendments to the Law of Ukraine
"On Audit Activities"
(Information of the Verkhovna Rada of Ukraine (VR), 2006, N 44, pp. 432)

Verkhovna Rada of Ukraine Oh, I am. :
Amend the Law of Ukraine "On Audit Activities"
( 3125-12 ) (Information of the Verkhovna Rada of Ukraine, 1993, N 23,
Oh, 243; 1995, N 14, pp. 88; 1996, N 9, pp. 44; 2003,
N 30, st. 247; 2004, N 45, st. 501; 2005, N 34, pp. 434;
2006, N 14, pp. 117, N 22, st. 184), teaching it in such a
& Revision:
" With A C O U R A, A
About auditing

This Act defines the legal basis for the exercise of an audit
activities in Ukraine and aimed at creating a system
independent financial control to protect interests
Users of financial and other economic information.
Section I
GENERAL PROVISIONS
Article 1. Scope of the Act
The provisions of this Act act on the territory of Ukraine and
propagate to all host entities regardless of the form
Property and activities.
The Act does not apply to audit activities.
government bodies, their units and officials authorized to
The laws of Ukraine are in public financial control.
Article 2. Audit legislation
Audit activities in financial control
Governed by the Lord's Code of Ukraine ( 436-15 ),
By law, other regulations and standards of audit.
In cases where an international agreement, consent is required
which is given by the Verkhovna Rada of Ukraine, other rules established,
than the ones that contain this Act apply the rules
international treaty.
Features of other auditing activities
are regulated by special legislation.
Article 3. Auditing
Auditing activities-business activities that
includes organizational and methodical assurance of the audit,
a practical execution of audit checks (audit) and providing
Other auditing services.
Audit-checking accounting data and metrics
financial reporting of the master ' s entity to express
an independent opinion of the auditor about its authenticity in all essential
Aspects and compliance with the requirements of Ukraine's laws, provisions
(standards) accounting or other regulations (internal)
of the household entities) according to the requirements of the
users.
Essential is information if its pass or wrong
mapping can affect the user ' s economic solutions,
-Financial reports are being adopted.
Audit is done by independent individuals (auditors),
The audit firms that are authorized by the master ' s subjects
On his own.
Audit may be conducted on the initiative of the master ' s subjects,
as well as in cases prescribed by law (mandatory audit).
Auditors (audit firms) can provide other auditors.
services related to their professional activities, in particular
The conduct and restoration of accounting, in the form of
Accounting and Financial Policy
reporting, expertise and financial management status
Activities and other types of economic-legal
For the purpose of the master's business.
List of services that can provide auditors (audit)
firms), defined by the Audit Chamber of Ukraine, according to
The standards are audited.
Article 4. Auditor
An audience can be a physical person who has a certificate that
defines its qualifying suitability in an audit session
Activities in Ukraine.
The auditor has the right to engage in audit activities as a
A physical person is an entrepreneur or an audit firm with a
To enforce the requirements of this Act and other regulations.
The auditor has the right to engage in audit activities as a
A physical entity is an entrepreneur only after the inclusion of him to the Register
Audit firms and auditors.
The auditors are forbidden to directly engage in other species
Entrepreneurial activities that do not rule out their rights to receive
Dividends from stocks and revenues from other corporate rights.
An audience cannot be a person who has a criminal record.
Crimes.
Article 5. Audit firm
The audit firm is a legal entity created according to
Legislation that exclusively audit activities.
The right to exercise audit activities has audits.
The firms are included in the Audit Office of Auditors and Auditors.
Total number of members of the auditor (s)
the firms that are not auditors, the statutory capital cannot
exceeds 30 percent.
The head of an audit firm can only be an auditor.
Article 6. Audit Standards
When audited and audited
Audit firms apply the relevant audit standards.
Audit standards are accepted based on audit standards and
Ethics of the International Federation of Accountants
Laws and other regulations.
Approval of the audit standards is an exclusive right.
Ukrainian Audit Office. In cases stipulated by the law,
The standards of the audit agree with other subjects.
Audit standards are mandatory for compliance by auditors,
Audit firms and business entities.
Article 7. Audit opinion and other official documents
Audit conclusion-a document compiled according to
Audit standards and provides for the confidence of users
concerning the relevance of financial reporting or other information
the conceptual foundations used in its composition.
The conceptual foundations may be laws and others
regulatory and legal acts of Ukraine, provisions (standards)
accounting, internal requirements and the position of entities
Housework, other sources.
Audit services in the form of consultations may be provided
Verbally or written with manual and other official
Documents. Expert services in the form of expertise
an expert conclusion or act.
The results of the provision of other audit services are arranged
According to the audit standards.
Audit conclusion of the audit of a foreign state auditor
an official of its application, organization or entity
The host of Ukraine is subject to the confirmation of the auditor of Ukraine,
If the other is not established by the international treaty of Ukraine
Article 8. Mandatory audit
Conducting an audit is mandatory for:
(1) Confirmation of authenticity and completeness of the annual financial
reporting and consolidated financial reporting of open
Joint stock companies, enterprises, bonds,
professional participants in the securities market, financial institutions and
other household entities reporting which according to the
Legislation of Ukraine is subject to official publication, for
excluding institutions and organizations fully held by the
State budget;
(2) Audit of the financial status of banks,
enterprises with foreign investment, open joint stock
societies (other than physical persons), insurance and holding companies,
institutions to share investing, trust societies and other
Financial intermediaries;
(3) The securities emitters in obtaining licenses for
Take professional action on the securities market.
Conducting an audit is mandatory also in other cases,
As predicted by the laws of Ukraine.
Article 9. Responsibilities of the master's office in the conduct of the
audit
Master's management bodies are required
create an auditor (audit firm) proper conditions for qualitative research.
executing an audit.
The administration of the entity's subject is carrying out
responsible for completeness and authenticity of documents and other
information provided by the auditor (audit firm) for the
To audit or provide other auditing services.
Financial reporting of the master ' s entity, which, respectively
to the law is subject to mandatory audit checks, must
be checked by the auditor and published according to the requirements
laws of Ukraine.
Chapter II
CERTIFICATION OF AUDITORS AND REGISTRY
AUDIT FIRMS AND AUDITORS
Article 10. Audit certification
Certification (definition of qualifiers for
(a) The following:
Ukrainian Chamber of Auditors.
Order of certification of auditors to be audited
banks, approved by the Audit Chamber of Ukraine
with the National Bank of Ukraine.
The right to receive a certificate has physical persons who have
a higher economic or legal education, a document of which
are recognized in Ukraine, the necessary knowledge on audit matters, finance,
economic and economic law, work experience at least three
Years on the payroll, accountant, lawyer, financier,
An economist, assistant auditor.
The presence of necessary knowledge to obtain a certificate
is defined by conducting a written qualification examination
For the program approved by the Audit Chamber of Ukraine.
The validity period of the certificate cannot exceed five years.
The continuation of the term certificate is through
five years in charge of testing for fah testing
Order established by the Ukrainian Audit Chamber.
Certification is able to cope with a fee,
by the Ukrainian Audit Chamber of Ukraine, based on the nightmare
Expenses for the maintenance of the Audit Committee of Ukraine.
Article 11. Register of audit firms and auditors
Register of audit firms and auditors-a database that
contains information about the audit firms and auditors who
engage in audit activities individually as physical
Entrepreneurs (hereinafter-Register).
The order of the Register is determined and provided
Ukrainian Chamber of Auditors.
The registry is not less than once a year published in the phase
Edition of the Audit Chamber of Ukraine.
Audit firms and auditors who are registered as physical
Entrepreneurs have the right to exercise an audit
activities only after the inclusion of them to the Register.
Included in the Register of Audit firms and auditors,
posted in part four of this article, is issued a certificate of
The corresponding sample.
For inclusion, the Register is capable of paying a fee,
An Audit Chamber of Ukraine.
Chapter III
UKRAINIAN AUDIT CHAMBER
Article 12. Powers of the Audit Chamber of Ukraine
The powers of the Audit Chamber of Ukraine are determined by this
Law and Statute of the Chamber of Audit of Ukraine.
The Statute of the Audit Chamber of Ukraine is accepted by two
of the votes of the total number of members of Auditorsk
(...)
Ukrainian Chamber of Auditors:
1) carry out certification of persons intending to engage
Auditing
(2) approve the standards of audit;
3) approve the auditor training programs and by the weather
with the National Bank of Ukraine of the Auditors ' Training Programme, which
Audit of banks;
4) leads the Register;
5) supervise the verification of audit firms and
The auditors of the requirements of this Act, standards of audit, norms of professional
The ethics of auditors;
(6) Measures to ensure independence of auditors;
Conduct of the audit and monitoring of
Quality of audit services;
7) regulate the relationship between auditors (auditing)
process) in the process of implementing audit activities and in the case of
Necessity applies to their charge;
8) exercise other powers stipulated by this Act and
Status of the Audit Chamber of Ukraine.
Annually the Audit Chamber of Ukraine receives from the auditors
firms and auditors of the reports performed by them, exercise their
analysis and delivers to the Cabinet of Ministers of Ukraine
Information on the status of audit activities in Ukraine.
Article 13. Establishment of the Audit Chamber of Ukraine
The Audit Office of Ukraine functions as an independent body.
Ukraine ' s audit house is a legal entity, leads ...
the relevant accounting and reporting.
The Ukrainian Chamber of Auditors is a non-profit organization.
The Audit Office of Ukraine acquires the authority of the law
persons from the day of her registration to the Ministry of Justice of Ukraine on
Based on the statements and the Statute approved in the order of
This is the Law.
The Audit Chamber of Ukraine is formed on the parity basis
by delegating to its auditors and representatives
Government agencies.
Total number of members of the Audit Chamber of Ukraine
There are twenty people.
From state bodies to one representative
Ministry of Finance of Ukraine, Ministry of Justice of Ukraine,
Ministry of Economy of Ukraine, State Tax Administration
Ukraine, National Bank of Ukraine, State Statistics Committee
Ukraine, the State Commission on Securities and Stock Market,
State Commission for the Regulation of Financial Services Markets of Ukraine,
Chamber of Accounts and Main Audit Office
Ukraine.
Member of the Audit Office of Ukraine from the auditors
delegates in the number of ten highly qualified auditors from
A continuous stage of audit activity for at least five years,
Representatives of research institutions and scientific organizations.
The right of Auditors to elect representatives to the Audit Office
the House of Ukraine and to be elected by the decisions which
are accepted at the Ukrainian Congress of Auditors.
Procedure for delegating representatives to the House of Audit
Ukraine is defined by the Congress of Auditors of Ukraine,
A collegiate of government bodies or other higher governing bodies.
Article 14. Activities of the Audit Chamber of Ukraine
The decision of the Audit Chamber of Ukraine is taken at its
meetings, by simple majority vote, in the presence of more than
half of its members with the exception of cases provided by this Act
and the Statute.
Ukraine ' s Audit Office can create in territory
Regional departments of Ukraine, whose powers are determined
Ukrainian Chamber of Auditors.
Term of office of Member of the House of Audit of Ukraine
For five years. The same person cannot be delegated.
There are more than two consecutive terms before the Audit Chamber of Ukraine.
Appointment of new members of the Audit Chamber of Ukraine instead of
The bombings are carried out in the order established by this Act.
Members of the Audit Chamber of Ukraine, with the exception of the Chairman
The Audit Chamber of Ukraine, fulfill its duties on the
A public service.
Sources of funding for the activities of the Chamber of Audit of Ukraine
may be:
Payment for the certification of the certification of individuals to the right
Occupancy;
The fee for inclusion in the Register;
voluntary contributions coming from professional organizations
The Audit of Ukraine;
other sources, not prohibited by legislation.
In order to fulfill its functions, the Chamber of Audit of Ukraine may
To create a commission of its members. Prior to working in commissions
To be involved with experts who are not members of the Audit Chamber of Ukraine.
Conduct of current affairs in the Audit Chamber of Ukraine
The secretariat who heads the manager. The Secretariat of the Secretariat is responsible.
Personal responsibility for the effective use of property and
funds of the Audit Chamber of Ukraine and creating proper conditions for
performing the functional duties of its members.
Article 15. Chairman of the Audit Chamber of Ukraine
The Head of the Audit Chamber of Ukraine fulfills its powers
on a professional basis.
The head of the Audit Chamber of Ukraine is elected from the number of its
members for the term of exercise of a member of the Audit Committee
the House of Ukraine by majority votes from the total number of
Ukrainian Audit Office.
The head of the Audit Chamber of Ukraine may be early
fired from office by decision of the Audit Chamber of Ukraine and in
Other cases stipulated by the legislation of Ukraine.
The powers of the Chairman of the Audit Chamber of Ukraine are determined
Status of the Audit Chamber of Ukraine.
Head of the Audit Chamber of Ukraine provides for formation
A new member of the Audit Chamber of Ukraine.
Chapter IV
AUDIT AND DELIVERY ORDER
OTHER AUDITING SERVICES
Article 16. General conditions for auditing and providing others
Audit services
Audit and providing other auditing services
carried out by the auditors, the audit firms that have given the right
to exercise audit activity in accordance with this Act.
General conditions of audit and other audit services
defined by the standards of audit approved by the Audit Office
The House of Ukraine.
Article 17. Reasons for auditing and providing others
Audit services
Audit is conducted on the basis of the agreement between the auditor
And the customer and the customer.
Other auditing services may be provided based on
the contract, written or oral appeal of the customer to the auditor
(...) (...)
Customer has the right of free auditor selection (audit)
(...) (...)
In agreement to conduct an audit and provide other audits
services are predicted by the subject and the term of inspection, volume
Audit services, size and terms of payment, responsibility
parties.
The standards of auditing can be predicted and other entities.
the terms of the contract to conduct an audit and the provision of other audits
Services.
Not valid are any provisions of the contract aimed at full
freeing the auditor (audit firm) from established law
A major responsibility for the inconsistency of the auditor
the conclusion or other document in which the results are reflected
An audit check.
Documents transmitted by the customer of the auditor (audit firm)
to conduct an audit are not subject to a solution or deletion without
The customer's consent.
Section V
RIGHTS AND RESPONSIBILITIES OF AUDITORS
AND AUDITING FIRMS
Article 18. Rights of Auditors and Audit firms
Ukraine ' s auditors have the right to unite in public
organizations behind professional signs, following the requirements of this
Laws and laws.
Professional organizations of Ukrainian auditors contribute to
professional level of auditors, protect social and professional
rights of auditors, make suggestions for further improvement
acting, fulfilling other powers as predicted by
with their statutes and provisions.
Auditors and audit firms during the exercise of audit
Activities are entitled to:
1) self-define the forms and methods of the audit and
providing other auditing services on the basis of the
legislation, audit standards and contract terms with the customer;
2) receive the necessary documents relevant to the
the subject of the inspection and are found in both the customer and the third
People.
Third person who have documents at their disposal
regarding the subject of inspection, are required to provide them on demand
An auditor (an audit firm). The requirement must be
It's officially confirmed by the customer;
3) receive the necessary explanations in writing or oral form
from the guidance and staff of the customer;
4) check for property, money, values, demand
from the leadership of the master ' s master
reviews, replacing performed works, determination of product quality,
To which document validation is performed;
5) engage in contractual services before participating in the inspection.
The experts of a different profile.
Article 19. Duties of auditors and audit firms
Auditors and audit firms are obliged to:
1) in auditor activities to comply with the requirements of this Act
and other regulations, standards of audit, principles and
the independence of the auditor and relevant decisions of the House of Auditors
Ukraine;
2) properly conduct audit and provide others
Audit services;
3) tell the owners authorized by them by the customers
discovered during the audit of the conduct audit
Accounting and financial reporting;
4) keep the secrets of information received when conducted
the audit and execution of other audit services, not dissolving
information that make up the subject of commercial secrecy, and not
Use them in their interests or in the interest of third persons;
5) match before the customer for violating the contract terms
According to the treaty and the law;
6) limit your activities by providing audit services and
other types of work that have a direct relation to the delivery
of audit services, in the form of consultation, inspections or
Experts;
(7) timely submit to the Audit Chamber of Ukraine the report of
In your auditorium.
Article 20. Special requirements
Forbidden to conduct an audit:
1) an auditor who has direct family relationships with members
The administration of the master ' s office is checked;
2) an auditor who has personal mayors of interest in the subject
The work is being tested;
3) an auditor-member of the management bodies, founder or
The owner of the master's office, which is checked;
4) an auditor-employee of the host entity that
Verifies;
5) an auditor-worker, co-owner of a child
enterprises, branches or representation of the host entity, which
Verifies;
6) if the size of the reward for providing audit services is not
Takes into account the necessary for the qualitative fulfillment of such services;
proper skills, knowledge, professional qualifications and degree
Responsibility of the Auditor;
7) an auditor in other cases not provided for
The requirements for his independence.
Members of the administrative, governing and controlling bodies
audit firms that are not auditors, as well as the founders,
owners, participants of audit firms refuse to intervene in
practical execution of an audit in a way that violates the independence of
auditors who make an audit.
Chapter VI
RESPONSIBILITY OF AUDITORS
AND AUDITING FIRMS
Article 21. Civil-legal responsibility of the auditors
and audit firms
For the inappropriate execution of your auditor obligations (auditor)
firm) carries a master and another civil-legal responsibility
Under the Treaty and the Law.
Size of the main responsibility of auditors (auditors)
firms) cannot exceed the actual customer-loss orders
Sorry.
All disputes concerning the non-fulfillment of the terms of the treaty, as well as the dispute
The main character between the auditor (the audit firm) and the
The customer is decided by the order in the order established.
Article 22. Other types of responsibility of auditors and
Audit firms
For the inappropriate execution of professional auditors to the auditor
(an audit firm) can be applied by the Audit Chamber.
Ukraine as a warning, stop force
certificate per line up to one year or annulment of a certificate,
Expulsion from the Register.
Order of application to auditors (audit firms)
The charge is determined by the Audit Chamber of Ukraine.
Decisions of the Audit Chamber of Ukraine concerning application to
The auditors (audit firms) of lesions can be challenged before the
Court.
Other types can be applied to auditors.
responsibility under the law.
Chapter VII
FINAL POSITIONS
1. This Act will take effect three months from the day of its
publish.
2. Take organisational measures to convene the Congress
Auditors to put on the Audit Chamber of Ukraine and the Union
The auditors of Ukraine (under their consent).
3. Cabinet of Ministers of Ukraine in a three-month period
The Act:
to submit proposals to the Verkhovna Rada of Ukraine
Legislation in compliance with the Act;
Provide guidance to ministries, other central
the executive branch of its regulations in the
A compliance with this Act.
4. National Bank of Ukraine in a three-month period
to take effect by the Act to bring its legal and legal rights
Acts in compliance with this Act.
5. The Audit Chamber of Ukraine in a three-month period
the right to force the creation of this procedure
The Court of Auditors of Ukraine with the requirements of this Act.
6. State bodies specified in Article 13 of this Act,
for three months on the day of entry into force of this Act
delegate to the order defined by this Act,
"Members of the Audit Chamber of Ukraine".

President of Ukraine
Um ... Kiev, 14 September 2006
N 140-V