IMPLEMENTATION OF EU PRACTICES FOR ACCOUNTING, FINANCIAL REPORTING AND AUDIT IN UKRAINE

Description

Accounting, audit and financial reporting remain essential for Ukraine’s economy’s functioning, also during the wartime. Administering funds supporting the war efforts and reconstruction will rely intensely on the regulation, competence and capacity of accountants and auditors to reduce risks of corruption and enable proper tracking of spending. This makes accountancy and audit regulation and capacity increasingly important. Lot 1: It is an extension of TA contract ENI/2019/408191. Given that, in October 2022 both project’s Beneficiaries – the Ministry of Finance and the National Commission for Securities and Stock Markets requested a continuation of the project, covering mostly the extension of the current activities (e.g. harmonization of more accounting regulations with IFRS, preparation of financial reporting taxonomies for subsequent years) and activities that had been included in the original Terms of Reference but eventually covered to a limited extent due to the start of the war. The duration of principal contract is 39 months; and this extension is for another 22 months.