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The National Bank of Ukraine Extends the Validity of Bank Audit Licenses Held by 14 Accounting Firms

For the first time, the National Bank of Ukraine has extended the validity of bank audit licenses held by 14 accounting firms  listed in the Register of Auditors entitled to audit  banks  for five years. In particular, these accounting firms include:

  • Aval;
  • Active-Audit
  • Baker Tilly Ukraine;
  • Grrantye;
  • Ernst & Young Auditor Services;
  • Cadastre-Audit;
  • KyivAudit;
  • KPMG Audit;
  • PKF Audit-Finance;
  • Rada LLC;
  • RSM Ukraine;
  • Cowperwood;
  • Deloitte & Touche Ukrainian Services Company;
  • Respect.

Please be reminded that the NBU intends to tighten the requirements for audit firms in order to improve the quality of bank audit. The new requirements are set forth in the draft amendments to the  Regulation On the Procedure for Maintaining the Register of Auditors Entitled to Audit Banks is posted on the NBU’s website to garner public opinion.

Please note that presently only a small number of accounting firms meet the requirements to be listed in the Register of Auditors. The NBU will allow accounting firms time to bring their activities in compliance with the new requirements.

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