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LAW OF UKRAINE

of May 31, 2022 No. 2285-IX

About introduction of amendments to the Law of Ukraine "About financial records audit and auditor activities" concerning ensuring auditor activities for action of warlike situation and post-war economic revival

The Verkhovna Rada of Ukraine decides:

1. Introduce in the Law of Ukraine "About financial records audit and auditor activities" (Sheets of the Verkhovna Rada of Ukraine, 2018, No. 9, Art. 50 with subsequent changes) the following changes:

Article 22 to add 1) with parts twelve and the thirteenth the following content:

"12. Auditors are not subject to inclusion in the Register, and also the auditors included in the Register are subject to exception of it if such auditors answer at least one of the following criteria:

1) are citizens of the country performing the armed aggression against Ukraine;

2) are in public registers of auditors and/or are members of the professional organizations of auditors and/or accountants of the country performing the armed aggression against Ukraine;

3) perform auditor activities as a part of the auditing firms registered in the territory of the country performing the armed aggression against Ukraine, founders (participants, shareholders) and/or final beneficial owners (controllers) of which are citizens of the country performing the armed aggression against Ukraine and/or the subjects of managing registered in the territory of the country performing the armed aggression against Ukraine and/or which directly or indirectly own shares in the authorized capital and/or voting power in such auditing firms, irrespective of formal ownership or entry into their governing bodies.

The exception of such auditors of the register is performed according to the decision of Council of supervision made on representation of Auditor chamber of Ukraine or inspection.

13. Subjects of auditor activities are not subject to inclusion in the Register, and also the subjects of auditor activities included in the Register are subject to exception of it if such subjects of auditor activities correspond at least to one of the following criteria:

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