World Bank2013-08-272013-08-272001-10-15https://hdl.handle.net/10986/15365Ukraine has several strengths, such as an educated workforce, strong bookkeeping skills, and commitment to reforms, and a long-term vision of joining the European Union. In order to strengthen existing public financial accountability, Ukraine will need to build on its strength by undertaking several measures. Experience in many other countries shows that several required changes entail reaching political consensus, reforming existing institutions, or creating new institutions. This suggests that a realistic timetable for improvement in public financial accountability will have to stretch over several years and will depend on strong leadership from the top. The most important areas for action are: bringing revenues under the scope of independent external auditors; introducing the concept of internal audit; strengthening the capacity of the Accounting Chamber to conduct financial statement audits; strengthening the accountability of state owned enterprises; introducing international accounting standards for selected enterprises; adopting international best practices for licensing of audit professionals; and strengthening the disciplinary committee of the Chamber of Auditors to provide effective oversight. Other measures needed are to: train deparmtnetal staff in implementing program budgeting; fully implementing the Budget Code; expediting the implementing of the Treasury modernization project; and implementing standardized automated accounting and reporting systems.en-USCC BY 3.0 IGOLEGAL FRAMEWORKINSTITUTIONAL FRAMEWORKEXTERNAL AUDITORSINTERNAL AUDITINGCAPACITY BUILDINGFINANCIAL STATEMENTSACCOUNTING & REPORTINGPUBLIC ENTERPRISESSTAFF TRAININGPROGRAM BUDGETINGBUDGET LAW & LEGISLATIONMODERNIZATIONAUTOMATIONREPORTING SYSTEMSMANAGEMENT INFORMATION SYSTEMSREGULATORY AGENCYBUSINESS LAWLEGAL REFORMCORPORATE GOVERNANCEHIRING PRACTICIES ACCOUNTACCOUNTANTSACCOUNTINGACCOUNTING POLICIESACCOUNTING RECORDSACCOUNTING SOFTWAREACCOUNTING STANDARDSACCOUNTSACCOUNTS PAYABLEACCOUNTS RECEIVABLEAPPROPRIATIONSAUDIT REPORTSAUDITINGAUDITING PROFESSIONAUDITORSAUTHORITYAUTHORIZATIONBANK ACCOUNTSBANKING SYSTEMBILLSBOOKKEEPINGBORROWINGBUDGET APPROPRIATIONSBUDGET CLASSIFICATIONBUDGET ESTIMATESBUDGET EXECUTIONBUDGET IMPLEMENTATIONBUDGET PROCESSBUDGET REVENUESBUDGET SYSTEMBUDGET SYSTEMSBUDGETARY ALLOCATIONSBUDGETARY FUNDSBUDGETARY INSTITUTIONSBUDGETARY PROCESSBUDGETARY RESOURCESBUDGETARY SPENDINGBUDGETARY SYSTEMSCABINET OF MINISTERSCAPITAL BUDGETINGCAPITAL MARKETSCAPITAL PROJECTSCASH COLLECTIONSCASH FLOWSCASH MANAGEMENTCENTRAL GOVERNMENTCENTRALIZATIONCITIZENSCIVIL SERVICECOMMERCIAL BANKSCONSTITUTIONCONTRACTORSCORPORATE GOVERNANCECOUNCILSDEBTDEBT RESTRUCTURINGDECISION-MAKERSDECREEDECREESDEFICITSDEMOCRACYDEPOSITSDISCIPLINARY COMMITTEEEMPLOYMENTENACTMENTEXECUTIVE POWEREXPENDITURE MANAGEMENTEXPENDITURESEXTERNAL AUDITORSFINANCIAL ACCOUNTABILITYFINANCIAL ACCOUNTINGFINANCIAL AUDITSFINANCIAL INFORMATIONFINANCIAL INSTITUTIONSFINANCIAL MANAGEMENTFINANCIAL MANAGEMENT SYSTEMSFINANCIAL REPORTINGFINANCIAL REPORTSFINANCIAL STATEMENTSFISCALFISCAL TRANSPARENCYFISCAL YEARFOREIGN INVESTORSGOVERNMENT FINANCEGOVERNMENT GUARANTEESGOVERNMENTAL ORGANIZATIONGROSS DOMESTIC PRODUCTHUMAN RESOURCEHUMAN RESOURCE MANAGEMENTIMPEACHMENTINSTITUTIONAL FRAMEWORKINSURANCEINTERNAL AUDITINTERNAL CONTROLSINTERNAL SECURITYINTERNATIONAL ACCOUNTING STANDARDSINTERNATIONAL ACCOUNTING STANDARDS COMMITTEEINVENTORYLARGE CITIESLAWSLEASED ASSETSLEGISLATIVE OVERSIGHTLEGISLATIVE POWERLEGISLATURELOCAL GOVERNMENTSMANAGEMENT ACCOUNTINGMANAGEMENT ACCOUNTING SYSTEMSMEMBERS OF PARLIAMENTMINISTERSMINISTRY OF FINANCEPAYMENT SYSTEMSPENALTIESPOLITICAL CONSENSUSPRIVATE SECTORPROGRAM BUDGETINGPROVISIONSPUBLIC ACCOUNTABILITYPUBLIC EXPENDITUREPUBLIC INSTITUTIONSPUBLIC RESOURCESPUBLIC SECTORPUBLIC SECTOR ACCOUNTINGREPORTING SYSTEMSRESOURCE ALLOCATIONRISK OF FRAUDSEPARATION OF POWERSSOCIAL INSURANCESTATE AGENCIESSTATE BUDGETSTATE CONTROLSTATE OWNED ENTERPRISESTAXTAX ADMINISTRATIONTAX REVENUESTECHNICAL ASSISTANCETREASURYWAGESWorld Bank10.1596/15365