16:55 05.06.2015

International auditors will check key state companies - Cabinet

1 min read
International auditors will check key state companies - Cabinet

International auditing companies will check 183 key state-owned enterprises.

The Cabinet of Ministers made the respective decision on June 4, Minister of Economic Development and Trade Aivaras Abromavicius wrote on his Twitter page.

"The Cabinet of Ministers adopted the resolution, which provides for the involvement of international auditing companies to the audit of the key state-owned enterprises," he wrote.

He said the state-owned enterprises were divided into two groups: the first composed of 84 objects with assets exceeding UAH 2 billion or income exceeding UAH 1.5 billion, the second consisting of 99 objects with the assets of more than UAH 250 million.

According to him, the audit of the first group of companies can be carried out by companies with annual revenues of over UAH 30 million, employing over 100 auditors, including 15 with international certificates (ACC, CPA, ICAEW).

The requirements for the auditors of the second group of enterprises are significantly lower: annual revenues exceeding UAH 3 million and more than ten auditors without the requirement of international certificates, the minister said.

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