Approval of the audit development concept

The Government has approved the Audit Development Concept for the next 4 years. It is set out in Order No. 3709-r dd 31.12.2020.

In particular, it proposes:

  • expand the practice of performing tasks that provide confidence in the reliability of non-financial statements and other information;
  • gradually introduce an expanded format of the audit report;
  • increase the requirements for audit organizations providing services to socially significant organizations;
  • to increase the responsibility for the unreliability of reporting, as well as for the avoidance of compulsory audit;
  • develop a system for monitoring the competencies of auditors.