At a meeting of the Government on April 19, the Cabinet of Ministers of Ukraine adopted Resolution No. 464 “Certain issues of ensuring the activities of the State Institution “Audit Public Oversight Body for auditing activities” in 2022″. It approved the budget of the State Institution “Audit Public Oversight Body” for 2022.
The budget of the State Institution “Audit Public Oversight Body” for 2022 has been reduced by UAH 5 million compared to its project approved by the Audit Public Oversight Body at the end of 2021. In connection with the initiation by the Audit Public Oversight Body to reduce the financial burden on audit entities and customers of audit services by establishing the amount of the fee paid by auditing entities in favour of the Audit Public Oversight Body at the rate of 0 (zero) percent.
The Quality Assurance Inspection envisages additionally revising the budget of the State Institution “Audit Public Oversight Body” for 2022. In view of the expected legislative changes to reduce the fixed fee paid to the Audit Public Oversight Body, as well as the updating the priorities to ensure the sustainable functioning of the audit public oversight system during martial law and post-war economic reconstruction and the search for finding additional sources of funding. At the same time, the priority activities of the Audit Public Oversight Body remain the implementation of the functions provided by the Law of Ukraine “On audit of financial statements and auditing”, providing quality services to the subjects of the audit services market and maintaining a highly professional staff.
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