The Cabinet of
Ministers of Ukraine adopted a resolution that provides an opportunity to
conduct high-quality and independent audit of the major state-owned companies
with the help of top international audit companies.
Regular auditing shall
provide an objective insight into the financial status and results of activity
of the state-owned enterprises, enable to improve management and
facilitate attracting investment.
The specialists of the
Ministry of Economy of Ukraine emphasize that such unbiased and high- quality
audit is a worldwide recognized practice and an important component of
reforming the state-owned enterprises in Ukraine.
According to the
authors of the document, public companies should be checked by auditors sharing
best international reputation, whose conclusions are trusted both by the state
and citizens of Ukraine, and international lenders and investors as well.
The Act applies to
joint and unitary state-owned enterprises, whose assets exceed UAH 250 million
(except for banks). The list of large state-owned enterprises in Ukraine
enumerates 183 such companies.
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