13:53 10.01.2024

Rada appoints Pischanska head of Accounting Chamber

2 min read
Rada appoints Pischanska head of Accounting Chamber

The Verkhovna Rada appointed Olha Pischanska to the post of head of Ukraine's Accounting Chamber.

The decision was supported by 252 MPs at the plenary session on Wednesday.

Pischanska considers increased transparency, the transition to international auditing standards and responsibility for failure to implement recommendations among the priorities of her work.

"The goal is continuous work to increase transparency, transition to international auditing standards and responsibility for failure to comply with the recommendations of the Accounting Chamber," she said in an interview with Interfax-Ukraine.

The head of the Accounting Chamber noted the need to implement regulations in line with international standards and create a circle of expert auditors with experience in conducting audits meeting international standards.

"Of course, from this year, all new audits shall be carried out in line with the implemented standards," she said, adding that recommendations shall be logically consistent with the audit results, be understandable for the audited object and society, and also be realistic for implementation within the specified deadlines.

Pischanska advocates responsibility on the part of the audited entity for failure to comply with the recommendations of the chamber. In addition, she emphasized the importance of rational use of funds, considering this not only as an obligation to the EU, but above all as an obligation to the state and society.

The head of the Accounting Chamber highlighted the importance of rational planning of expenses, taking into account expediency and timeliness, as well as ensuring internal control over the use of funds. According to her, it is the lack of analysis at intermediate stages that mainly leads to inflated or unreasonable costs.

"The task of the audit is not just to be limited to assessing compliance with the law when performing financial transactions, but to analyze the effectiveness, results and cost-effectiveness of the financial decisions made," she said, noting that this helps correct errors in building processes and, as a result, eliminate misappropriations in future.

Pischanska added that "of course, if signs of a criminal offense are identified during the audit process, the first step is to report them to the relevant law enforcement agencies."

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