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Ukrainian Gov opens way to high-quality and independent audit of State-owned companies
05.06.2015 18:23 "Agro Perspectiva" (Kyiv) —
The Ukrainian Cabinet has 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, Government Portal reports.
As to the report, regular auditing shall provide an objective insight into the financial status and results of activity of the State-owned companies, enable to improve management and facilitate attracting investment.
Reportedly, the specialists of the Ukrainian Ministry of Economy emphasize that such unbiased and high- quality audit is a worldwide recognized practice and an important component of reforming the State-owned companies in Ukraine.
As to the authors of the document, public companies should be checked by the auditors sharing best international reputation, whose conclusions are trusted both by the State and citizens of Ukraine, and international lenders and investors as well.
Reportedly, the Act applies to joint and unitary State-owned enterprises, whose assets exceed UAH250 million (except for banks). The list of large Ukrainian State-owned companies includes 183 of them.
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