World Bank2017-09-082017-09-082008-12https://hdl.handle.net/10986/28236This assessment of accounting and auditing practices in Ukraine is part of a joint initiative of the World Bank and International Monetary Fund (IMF) to prepare Reports on the Observance of Standards and Codes (ROSC). The assessment focuses on the strengths and weaknesses of the accounting and auditing environment that influence the quality of corporate financial reporting and includes both a review of both mandatory requirements and actual practice. The report uses International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) as benchmarks and draws on international experience and good practice in the field of accounting and auditing regulation. All the key economic sectors in Ukraine rely on high quality financial information, which requires high quality private sector accounting and auditing. As Ukraine moves towards further reforms, liberalization and deregulation in efforts to foster an investment-friendly business environment enhanced financial transparency and improved accounting and auditing practices must support this. In this context, this report sets out policy recommendations to enhance the quality of corporate financial reporting and foster a financial reporting platform conducive to sustainable private and financial sector growth, thus increasing access to global financial markets and other tools of the market economy.en-USCC BY 3.0 IGOACCOUNTABILITYACCOUNTANCYACCOUNTANCY FIRMSACCOUNTANTACCOUNTANTSACCOUNTINGACCOUNTING FRAMEWORKACCOUNTING POLICIESACCOUNTING STANDARDACCOUNTING STANDARDSACCOUNTING SYSTEMSACCOUNTSACQUISITIONSASSET VALUEAUDIT COMMITTEEAUDIT REPORTSAUDIT STANDARDSAUDITED FINANCIAL STATEMENTSAUDITINGAUDITING STANDARDSAUDITORSAUDITSBALANCE SHEETBALANCE SHEETSBANK DEPOSITSBANK OF LATVIABANKING INSTITUTIONSBANKING LAWBANKING LEGISLATIONBANKING REGULATIONSBANKING SECTORBANKING SUPERVISIONBANKING SYSTEMBEARER BONDSBOOKKEEPINGBROKERAGESBROKERSBUSINESS ADMINISTRATIONBUSINESS SCHOOLSCAPACITY BUILDINGCAPITAL MARKETSCASH FLOWCIVIL LAWCOMMERCIAL BANKSCOMMERCIAL CODESCOMPANY LAWCOMPLIANCE GAPCONSOLIDATED FINANCIAL STATEMENTSCORPORATE BONDSCORPORATE GOVERNANCECREDIBILITYCREDIT UNIONSCREDITORSDEBENTURESDEPOSITDEPOSIT LIABILITIESEARNINGS GROWTHECONOMIC REFORMEQUIPMENTEXTERNAL FUNDINGFINANCIAL ACCOUNTINGFINANCIAL INFORMATIONFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL LEASINGFINANCIAL MARKETSFINANCIAL REPORTINGFINANCIAL REPORTING STANDARDSFINANCIAL REPORTSFINANCIAL SECTOR DEVELOPMENTFINANCIAL SERVICESFINANCIAL STATEMENTFINANCIAL STATEMENTSFINANCIAL SYSTEMFOREIGN BANKSFOREIGN CAPITALFOREIGN CURRENCYFOREIGN DIRECT INVESTMENTFOREIGN INSURERSFOREIGN INVESTMENTSFOREIGN INVESTORSFREE MARKET ECONOMYGOOD PRACTICEGOOD PRACTICESHOLDINGHOLDING COMPANIESINCOME TAXINSTITUTIONAL CAPACITYINSURANCEINSURANCE COMPANIESINSURANCE PREMIUMSINTERNATIONAL ACCOUNTING STANDARDSINTERNATIONAL ACCOUNTING STANDARDS COMMITTEEINTERNATIONAL DEVELOPMENTINTERNATIONAL FINANCEINTERNATIONAL FINANCIAL MARKETSINTERNATIONAL MARKETSINTERNATIONAL STANDARDSINVESTMENT FINANCEINVESTMENT FUNDSINVESTMENT INSTITUTIONSINVESTOR CONFIDENCEISSUERS OF SECURITIESJOINT STOCK COMPANIESJOINT STOCK COMPANYJOINT-STOCK COMPANIESLAWSLEGAL FRAMEWORKLEGAL PROVISIONSLEGAL SYSTEMLEGISLATIONLEGISLATIVE FRAMEWORKLIABILITYLIMITED LIABILITYLIQUIDITYLLCMANAGEMENT ACCOUNTINGMARKET CONDITIONSMARKET ECONOMYMARKET INDICESMARKET PARTICIPANTSMARKET REQUIREMENTSMINIMUM CAPITAL REQUIREMENTSMONETARY FUNDMORTGAGEMORTGAGE FINANCEMUTUAL FUNDSNATIONAL BANKNEW ENTRANTSOPEN JOINT STOCK COMPANIESOPEN JOINT-STOCK COMPANIESPARENT COMPANIESPEER REVIEWPENSIONPENSION FUNDPENSION FUNDSPENSIONSPOCKET BANKSPOLITICAL UNCERTAINTIESPORTFOLIOPOTENTIAL INVESTORSPRIVATE PLACEMENTPRIVATE PLACEMENTSPRIVATIZATIONPUBLIC DISCLOSUREPUBLIC REGISTRYQUALITY ASSURANCEQUALITY AUDITSQUALITY CONTROLREGULATORY FRAMEWORKREGULATORY INFRASTRUCTUREREGULATORY REPORTSRESERVESRETURNRETURNSSECURITIESSECURITIES LAWSECURITIES MARKETSHAREHOLDERSSMALL BANKSSOLVENCYSTATUTORY AUDITORSSTOCK EXCHANGESTOCK EXCHANGESSTOCK MARKETSTOCK MARKETSSUBSIDIARIESSUPERVISORY AUTHORITIESSUPERVISORY BOARDTAXTAX ADMINISTRATIONTAX RULESTAXATIONTELECOMMUNICATIONSTRADINGTRANSPARENCYTURNOVERReportWorld Bank10.1596/28236