Audit Firm “PKF Audit-Finance” took part in a seminar on “International Auditing Standards Introduced by Ukraine in 2017”

The audit firm PKF Audit-Finance took part in the seminar “International Standards on Auditing, introduced by Ukraine in 2017: New format of audit reports, requirements of the National Financial Services Commission to audit findings”, which was conducted jointly with the Association of Auditors of Ukraine and the National Financial Services Commission, where were discussed important practical issues regarding the new requirements of ISA to audit findings. These new requirements primarily concern the inclusion of a new chapter in the audit report – “Key Audit Issues”. Consequently, a lot of time was devoted to the workshop, including the consideration of practical examples and the key audit issues that may be identified by an auditor when conducting an audit of financial statements of financial institutions. In addition, the draft Methodological Recommendations for the audit report, which is scheduled to be adopted by the National Financial Services Commission for the compilation of audit reports with the relevant section on coverage of other requirements of regulatory and normative acts on the activities of financial institutions, was discussed.