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IFRS Forum Ukraine in Odesa

16/ 05/ 2018
  According to the amendments to the Law On Accounting and Financial Reporting in Ukraine, from January 1, 2018, enterprises must comply with international financial reporting standards (hereinafter - IFRS). On this occasion, the Forum On the way to Qualitative IFRS Reporting was held in Odesa. The EBA Odesa member-companies also took part in the event. The speakers became the representatives of the Ministry of Finance of Ukraine, the National Commission on Securities and Stock Markets, the Federation of Professional Accountants and Auditors of Ukraine, the Union of Auditors of Ukraine, CIMA, the Liga.Zakon and BDO Ukraine. The attendees discussed legislative requirements regarding new criteria for enterprise classification, disclosure, reporting formats and GMAP management accounting standards. In addition, the topic of dispute was the regulation of the accouter profession in general. In particular, the partner of  EBA member-company BDO, Vadim Chornovil, shared international experience in this field and further prospects for Ukraine. So, in the context of the formation of market relations, qualitative financial reporting plays an important role both for support and for the state. Today it is an element of the market economy infrastructure, a real means of communication, through which managers of different levels are able to formulate a strategy and tactics of company development.

According to the amendments to the Law “On Accounting and Financial Reporting in Ukraine”, from January 1, 2018, enterprises must comply with international financial reporting standards (hereinafter – IFRS). On this occasion, the Forum “On the way to Qualitative IFRS Reporting” was held in Odesa. The EBA Odesa member-companies also took part in the event. The speakers became the representatives of the Ministry of Finance of Ukraine, the National Commission on Securities and Stock Markets, the Federation of Professional Accountants and Auditors of Ukraine, the Union of Auditors of Ukraine, CIMA, the Liga.Zakon and BDO Ukraine.

The attendees discussed legislative requirements regarding new criteria for enterprise classification, disclosure, reporting formats and GMAP management accounting standards. In addition, the topic of dispute was the regulation of the accouter profession in general. In particular, the partner of  EBA member-company BDO, Vadim Chornovil, shared international experience in this field and further prospects for Ukraine.

So, in the context of the formation of market relations, qualitative financial reporting plays an important role both for support and for the state. Today it is an element of the market economy infrastructure, a real means of communication, through which managers of different levels are able to formulate a strategy and tactics of company development.

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