NBU intends to toughen requirements for audit firms

The national Bank has drafted amendments to the procedure for maintaining the register of auditors.

The national Bank of Ukraine (NBU) drafted amendments to the procedure for maintaining the register of auditing firms.

As the regulator reported on the official website, developed draft amendments to the regulations on the procedure for maintaining the register of auditing firms entitled to audit banks.

“The draft amendments to the regulations is proposed to tighten the requirements for an auditing firm that is paid by the National Bank in the registry, and its employees involved in the audit (the audit) of the Bank, and to streamline the maintenance of the register,” – said the NBU.

On 20 July, the national Bank excluded subsidiary PricewaterhouseCoopers from the registry of audit firms eligible for auditing banks. The regulator reported that PricewaterhouseCoopers estimated the deposits in nationalized PrivatBank times more than their real value.

At the end of June, Bloomberg wrote that Ukraine may ban PwC to audit banks after audit Private, because this audit could play a significant role in the collapse of financial institutions.

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