The National Bank of Ukraine (NBU) plans to reduce the list of auditors which are permitted to audit financial reports of banks by more than one third by removing 11 companies from it, Director of the Bank Supervision Department at NBU Kateryna Rozhkova said at a meeting of the parliamentary committee on bank auditing on Wednesday.

"In 2014-2015, eight companies did not find problems at bank, which later were declared insolvent… Another three companies have not audited financial reports of banks for a long period of time, and we're not sure that their experience complies with modern requirements," she said.

Rozhkova said that the central bank plans to ask the Audit Chamber of Ukraine to impose sanctions on the auditors in question.

Rozhkova said that the NBU opposes the formulaic approach to conducting bank auditing, which should reach a new standard of reporting.

The press service of the NBU said that the list of companies which could be banned from auditing banks will be announced after its approval by the central bank's board.

As of September 1, 2015, the revised list of auditors officially recognized by the NBU included 32 companies.