Purpose. To provide business entities with more reliable, accurate and standardised accounting and financial statements data, and to have them critically reviewed by competent auditors in accordance with international standards on auditing; to develop rules for financial statements and auditing for business entities of different types and sizes; to disclose standardised financial statements in electronic format by all business entities.
The National Bank is a recipient of Component 3 “Financial Statements in a Single Electronic Format” of the EU-FAAR Project, which provides for the disclosure of standardised financial statements in a single electronic format by all business entities, including banks and other financial institutions, in accordance with the Law of Ukraine “On Accounting and Financial Statements in Ukraine”.
Products for the National Bank and the most significant events:
- the Ukrainian XBRL IFRS taxonomy 2020 was developed;
- the Ukrainian XBRL IFRS taxonomy 2021 was developed;
- the development of the Ukrainian XBRL IFRS taxonomy 2022 is in progress.