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Independent Auditors Confirm NBU Consolidated Financial Statements for 2018

17 April 2019

Press Release

 

The National Bank of Ukraine (NBU) has completed drawing up its annual financial statements for 2018 to be approved by the NBU Council.

 

On 16 April 2019, the NBU Consolidated Financial Statements were approved by the NBU Board and signed by NBU Governor Yakiv Smolii, Chief Accountant Bohdan Lukasevych, and Head of Financial Controlling Department Oleh Strynzha. On behalf of the external auditor, the statements were signed by the audit partners of Deloitte & Touche USC in Ukraine – Yevhen Zanoza and Nataliia Samoilova.

 

A positive opinion and no remarks were issued on the statements.

 

According to the Deloitte & Touche USC opinion, the NBU Consolidated Financial Statements were accurate and in all material respects reflected the financial standing of the regulator as at the end of 31 December 2018, as well as the results of its operation, its cash flows and changes in its equity according to International Financial Reporting Standards (IFRS).

 

Yakiv Smolii, NBU Governor, thanked the audit firm for its high professionalism and quality work. He also reminded that, according to Ukrainian laws, the annual Consolidated Financial Statements, together with the audit report, should be approved by the NBU Council no later than on 30 April 2019. After approval, the document will be published on the NBU’s official website.

 

Pursuant to the Law of Ukraine On Accounting and Financial Reporting in Ukraine, along with the Consolidated Financial Statements for 2018, the NBU also drafted the annual consolidated Governance Report. According to the audit findings, the independent auditor did not find any inconsistencies with the Consolidated Financial Statements. The Governance Report will be published together with the Consolidated Financial Statements.

 

 

For reference

 

According to the Law of Ukraine On the National Bank of Ukraine, the NBU draws up financial statements in line with IFRS, which are subject to mandatory audit at least once a year by an audit firm experienced in auditing central banks. Audits of NBU annual financial statements must be delivered in compliance with international auditing standards.

 

Deloitte confirms the financial statements of over 20 central banks around the world. The NBU chose this company as an independent auditor through a procurement procedure. Deloitte & Touche USC has been auditing NBU financial statements for the past five years.

 

According to the Law of Ukraine On the National Bank of Ukraine, the NBU shall transfer to the State Budget of Ukraine the amount of profit before distribution set out in the annual financial statements verified by the auditor and approved by the NBU Council.

 

 


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Last modification   17.04.2019