A requirement to conduct an independent audit of financial reports for 2015 has been observed in full only by 25 out of 46 largest state-owned enterprises (SOEs), Ukraine's Economic Development and Trade Ministry has reported.

"Eleven enterprises are fully sabotaging the requirement to conduct independent audit. These are Olympiysky National Sports Complex, Ukrainian Sea Port Authority, Ukrinterenergo, Pivdenne Machine Building Plant named after Makarov (Pivdenmash) and Zorya-Mashproekt," the ministry said.

Among these enterprises are also Vuhillia Ukrainy, the 61 Communards Shipyard, Financing of Infrastructure Projects, Regional Power Grid, Chornobyl Nuclear Power Plant and Krasnolymanska coal company.

"Sabotaging independent audits is tantamount to sabotaging the state-owned enterprise management reform," Deputy Minister Maksym Nefyodov said.

The ministry said that the process of preparing an audit has got underway at Ukrainian Sea Port Authority after top management of the SOE was reshuffled. For Pivdenmash, the problem is linked to a lack of funds, while preliminary the enterprise held talks with BDO.

The ministry said that along with 11 above-mentioned companies four more companies from the group of largest state-owned enterprises conducted the audit violating the approved regulations, attracting auditors that do not meet the requirements. Among them are Sumykhimprom (Arca audit firm), Kharkiv State Aircraft Manufacturing Company (KSAMC, auditor is Horizontal audit firm), Ukrainian Automobile Roads of Ukraine (the Industrial Audit Union) and Ukrspecexport (Bina audit firm).

The ministry said that there are six more companies that are conducting audits for 2015: Odesa Maritime Merchandise Port, Chornomorsk Maritime Merchandise Port, United Mining-Chemical Company, Ukrkhimtransammiak and Ukrkosmos.

The ministry said of the ten companies that began for 2016 only four completed them.