The National Bank of Ukraine modifies the treatment in accounting records and financial statements of provisions against transactions with cash and metals held on the territory uncontrolled by the Ukrainian authorities. On 26 November 2015, NBU Board Resolution No. 826 was issued to this effect.

“The situation triggered by the anti-terrorist operation qualifies as a Force Majeure event and its accounting treatment falls outside the bounds of International Financial Reporting Standards. Therefore, information on cash held in the ATO area, which cannot be accessed freely or verified by primary documentary evidence (source documents), requires special treatment in the annual financial statements,” says Director of the Accounting Department Bohdan Lukasevych. “To avoid ambiguity surrounding the treatment of such operations, we are introducing contra accounts as a complement to the existing cash and investment metals accounts. Expenses on unverified cash and investment metals will be recorded on these accounts. We have already notified all banks of the changes in accounting procedures."

The new contra accounts will show credible information on cash and investment metals held by Ukrainian banks.

Additionally, in view of the entry into force of the Cabinet of Ministers of Ukraine Resolution No. 378 “On Approval of the Procedure for Servicing of Local Budgets in Respect to Their Development Budget and Own Revenues of State-Financed Organizations in Public Sector Banks,” dated 14 May 2015, and which grants autonomy to local governments, new accounts have been introduced to show information on local budgets with regard to the development budget, which is required for the compilation of statistical reports and financial statements. 

The aforementioned changes to the Chart of Accounts of Ukrainian Banks approved by NBU Board Resolution No. 826 become effective from 1 December 2015.