ORDER OF THE MINISTRY OF FINANCE OF UKRAINE

of July 6, 2020 No. 400

About approval of the Procedure for continuous professional training of auditors

According to part of the seventeenth article 19 of the Law of Ukraine "About financial records audit and auditor activities" PRIKAZYVAYU:

1. Approve the Procedure for continuous professional training of auditors which is applied.

2. In accordance with the established procedure to provide to department of methodology of financial accounting and normative ensuring auditor activities:

submission of this order on state registration in the Ministry of Justice of Ukraine;

promulgation of this order.

3. This order becomes effective from the date of its official publication.

4. To impose control of execution of this order on the deputy minister Vorobey S. I.

Approved by the Order of the Ministry of Finance of Ukraine of July 6, 2020, No. 400

Procedure for continuous professional training of auditors

I. General provisions

1. This Procedure determines forms, types, amount, duration, conditions and procedure for control of passing by auditors of continuous professional training.

2. In this Procedure terms are used in the following sense:

continuous professional training of auditors participations of auditors in actions for the purpose of ensuring professional development, maintenance at the high level and enhancement of practical skills on audit and acquisitions of new theoretical knowledge of the directions determined by part two of article 19 of the Law of Ukraine "About financial records audit and auditor activities" (further - the Law);

educational actions trainings of auditors for the programs developed by the professional organizations of auditors and accountants, the legal entities meeting the requirements established by the Commission on certification and also for the programs developed by auditing firms which are acknowledged the professional organizations - members of the International federation of accountants.

Other terms are used in values, determined by the Law.

3. The auditor according to part of the sixteenth article 19 of the Law shall observe requirements for continuous professional training.

4. Continuous professional training of auditors is based on the following principles:

free choice by the auditor of forms and types of continuous professional training;

competitive environment in the sphere of provision of services on continuous professional training of auditors.

5. The minimum amount, duration of continuous professional training of the auditor make 120 hours within three calendar years in a row on accumulative system, but at least 20 hours in calendar year.

II. Forms and types of continuous professional training of auditors

1. Auditors can undergo continuous professional training in various forms and types according to this Procedure.

2. Forms of continuous professional training of auditors are: internal, correspondence and remote. Forms of continuous professional training of auditors can be combined.

3. Main types of continuous professional training of auditors are:

educational actions;

short-term measures, stipulated in Item 4 presents of the Section;

other measures, stipulated in Item 5 these Sections.

4. Continuous professional training of the auditor can be performed by participation in such short-term actions:

in the conferences, seminars and other actions organized by the Ministry of Finance of Ukraine, Body of public supervision of auditor activities, Auditor chamber of Ukraine, the professional organizations of auditors and accountants;

in the actions organized by the National Bank of Ukraine, the National commission on securities and the stock market, Public service of financial monitoring of Ukraine, monitoring bodies concerning financial accounting, the taxation, audit and financial monitoring;

in scientific and practical conferences on questions of financial accounting, the taxation and audit with the publication of theses;

in the international actions for financial accounting, the taxation and audit;

in seminars, practical works, webinars, training programs concerning financial accounting, the taxation and audit.

The amount and duration of passing of continuous professional training of auditors by participation in short-term actions are determined according to the actual duration of training in hours, but no more than 10 hours in calendar year based on supporting documents which shall contain information on the name, form, duration and the organizer of the event.

In case of participation of the auditor in the actions specified in paragraphs second and third this Item the total amount and duration of passing of continuous professional training by it by participation in short-term actions can be increased according to the actual duration of such actions, but no more than till 20 o'clock in calendar year provided that their organizers within 10 working days from the date of carrying out each of such actions will give to Inspectorate for quality assurance Organa of public supervision of auditor activities (further - Inspection) information on the held event, its duration and participants.

5. Other actions for continuous professional training are:

the publications in the form of monographs, textbooks or education guidances concerning audit, accounting and the taxation (in year of their edition) published solely or in co-authorship that is confirmed by the copy of the page of the publication with indication of edition details;

in national and international professional editions concerning audit, accounting and the taxation in amount 0,5 of the author's sheet on each author or the coauthor of publications suffices publication (in year of their edition) that is confirmed by the copy of the publication and the page with indication of details of the corresponding edition;

direct participation in preparation of drafts of regulatory legal acts on financial accounting and audit which develop the Ministry of Finance of Ukraine and the National Bank of Ukraine;

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