It is stated that auditors certificates validity of which has not expired before the law entered into force are equal to the auditor's certificate, validity of which is unlimited

At website of the Ministry of Finance they posted a bill on amendments to a number of legislative acts concerning auditing activities, which provides significant changes for auditors. First, audit activities are encouraged to identify as independent professional activity, which includes provision of services in audit, reviewing financial statements, activities on providing assurance and other audit services in accordance with international auditing standards. Also, it is contemplated that instead of auditor's report a corresponding report will be prepared, as YURLIGA writes.

Let’s recall, now audit activity is entrepreneurship, which includes organizational and methodological support of audit, practical implementation of audit checks (audit) and providing other audit services.

Certification of auditors will be carried out by the Commission on Certification of auditors, and not by the Audit Chamber, as established at the moment. Certification Commission is formed by delegation in its composition: 4 persons from the Congress of Auditors of Ukraine, 4 persons from joint representative body of professional organizations of auditors; state officials - one person from the central organ of executive power, which provides for formation and implementation of public financial policy of the National Bank, SSMNC, StateComFinServices. The commission's decision can be appealed to the Audit Chamber of Ukraine.

The list of requirements for persons wishing to become auditors did not undergo significant changes. Auditor's certificate is issued to individuals who have a degree in economics or law, a document of which is recognized in Ukraine, continuous service of not less than 3 years by the auditing profession, accountant, lawyer, financier, economist and assistant auditor as well as necessary knowledge in audit, finance, accounting, taxation, economics and business law, which can be determined by means of a written qualification exam.

Certificate of auditor is unlimited. While now this term is 5 years.

There is a fee for certification procedure, the amount of which is set by the Audit Chamber of Ukraine, taking into account size of economically justified costs, but no more than three times the minimum salary established on 1 January of the current year (current legislation does not contain this restriction).