The Auditors' Chamber of Ukraine
The Auditors' Chamber of Ukraine (hereinafter - ACU) established under the Law of Ukraine "On Auditing" of 22th April 1993, No. 3125-XII and operates as an independent body. The APU is formed on a parity basis by delegating to its members auditors and representatives of state bodies. Total number of the APU members - twenty people.
According to the Law of Ukraine "On Auditing" state bodies delegate to APU one representative of the Ministry of Finance of Ukraine, the Ministry of Justice of Ukraine, the Ministry of Economic Development and Trade of Ukraine, the State Fiscal Service of Ukraine, the National Bank of Ukraine, the State Statistics Service of Ukraine, the National Securities and Stock Market Commission of Ukraine, the National Commission for Regulation of Financial Services Markets of Ukraine, the Accounting Chamber of Ukraine and the State Financial Inspection.
By the Congress of auditors to APU are delegated ten highly experienced auditors with continuous audit activity at least five years, representatives of professional educational institutions and scientific organization.
The APU members, except of the Chairman of the APU, perform their duties on a voluntary basis.
The Auditors' Chamber of Ukraine performs the following:
certification of individuals who want to conduct an audit activity;
approves Standards on Auditing;
approves training programs for auditors and in coordination with the National Bank of Ukraine training programs for auditors that conduct an audit of banks;
keeps the Register of Audit Firms and Auditors;
exercises control over compliance by audit firms and auditors with requirements of the Law of Ukraine "On Auditing", Standards on Auditing, norms of professional ethics of auditors;
takes measures to ensure the independence of auditors during its audits and to control quality of audit services;
regulates relationships between auditors (audit firms) in the process of audit and in case of necessity to apply to them penalties;
performs other powers stipulated by the Law of Ukraine "On Auditing" and Charter of APU.
Auditors' Chamber of Ukraine is the regulator of audit services market.