President Petro Poroshenko signed the Law on Introducing Amendments to the Law of Ukraine On Accounting and Financial Reporting in Ukraine” regarding improvement of some provisions, as the official website of President of Ukraine reports.
The implementation of provisions of the law will allow improving the level of quality of the financial reporting in Ukraine and ensure performance of Ukraine’s obligations in compliance with EU-Ukraine Association Agreement.
The document, in particular, improves the general requirements, the procedure of submission and promulgation of the financial reporting; the regulations of national legislation on accounting are brought into line with EU’s legislative provisions.
The law comes into force from January 1, 2018, except for the provisions, relating to the promulgation of annual financial reporting with auditor’s opinion on the page of large enterprises and other financial institutions of micro- and small companies, which enter into force from January 2019.