Number of auditors down by 18% in 2011
Kyiv, March 23 (Interfax-Ukraine) – The Ukrainian audit market is in crisis, and the reduction in the number of auditors on the market by 18% in 2011 is evidence of this, according to President of the Ukrainian Association of Certified Accountants and Auditors, Andriy Klymov.
He was giving his opinion at a press conference at Interfax-Ukraine entitled "Ukraine's Audit Market: Further Development or Stagnation?"
"We think there is a real need to amend laws in Ukraine [in the audit area] and bring them in line with European requirements… Various state bodies duplicate the functions of the Audit Chamber of Ukraine. Five registers of auditors' certification are being kept and requirements to audit conclusions are being drawn up," Klymov said.
Vice President of the Union of Auditors of Ukraine Mykhailo Kropyvko said that today it is very hard to determine what body is responsible for the development of the audit market.
"Today, it's difficult to define who is responsible for the development of the profession – the Finance Ministry or the Audit Chamber or the national commission for the financial service markets regulation… There are many those who put forward requirements to auditors and tell them how to work, but where is a body which is responsible for everything that happens in audit?" Kropyvko said.
He said that the partial delegation of powers of state bodes that regulate the audit area to professional organizations could settle the problem.
"All auditors should be members of professional organizations, which are to be responsible. In turn, state regulation transfers some powers to the organizations, for example, certification of auditors, requirements to further training, control over quality, disciplinary proceedings, investigations…" he said.
He said that at present around 17 professional organization in the audit area are registered in Ukraine.