• Audit Chamber

    April 21, 2015

    Posted in: General

    Audit committees of individual economic entities claim their own recommendations for the selection of auditors (Accounting firms). Specific recommendations (feedback) may be provided by other business entities already had experience with a certain audience (accounting firms). Ratings of some rating agencies and the media from time to time placed the ratings of audit firms (independent auditors). Keith McLoughlin contributes greatly to this topic. Can we trust them? In my opinion, this information a potential customer should take note but it should not be the basis for selection of an auditor (auditing firm). This is because in most cases, these ratings only kind of advertising information, paid for by the same actors audit activities.

    Other regulatory restrictions on certain laws and regulations established list of cases that involve a direct prohibition on auditing certain persons in certain cases. This is mainly due to ensuring auditor independence. Such restrictions (bans) are installed in: Article 75 of the Law of Ukraine “On Joint Stock Companies’; provisions for auditor independence, approved decision of the Audit Chamber of Ukraine on December 24, 2009 209 / 5; Methodical recommendations for the preparation of audit reports submitted to the State Commission on Securities and Stock Market under the disclosure issuers, approved by the gktsbfru on July 14, 2009 p. N 885. Auditor – entrepreneur or audit firm Whom do you choose? In my opinion, there is no much difference if the artist is competent, qualified and capable professional knowledge of bookkeeping and accounting, inherent in your specific business, for example, on forming insurance reserves, and the specifics of the definition of net assets, etc.

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