The National Securities and Stock Market Commission has approved the draft amendments to “Procedures of maintenance of register of auditing firms, which can conduct audit inspections of professional participants of securities market”, NSSMC press-service reports.
The Commission has increased requirements for auditing firms, which would like to be included into the NSSMC register.
The project also stipulates that while fulfilling its activities the auditing firm is obliged to inform NSSMC about all data changes, indicated in documents, attached to the application for inclusion into the Register, and should annually submit the information on results of its work.
The auditing firm can be excluded from the Register due to absence of provision of auditing services to professional participants of securities market within 12 months since the date of inclusion to the Register.
The project has also revised the conditions for provision of documents, in case of adoption of decision on exclusion of the auditing firm from the Register.
The proposed amendments are also connected with bringing the Procedure in compliance with Law of Ukraine “On administrative services” regarding determination of deadlines for provision of administrative services.
As of 22nd December 2015, 146 firms are registered in the Register of the auditing firms, which can conduct audit inspections of the professional participants of securities market.