Conference gathered around 200 representatives of professional community of Ukraine and EU countries: heads of professional auditing and accounting organizations from EU countries, Ukrainian ministries and establishments, auditors, financial directors and accountants.
In first section experts discussed the necessity of IFRS implementation in Ukraine in the context of euro integration and improvement of investment attractiveness for foreign investors through presentation of more publicly available information about enterprises, which can be achieved only with a help of financial reporting confirmation in accordance with IFRS. Evgen Radionov, representative of SCM Group, shared practical experience in IFRS implementation. He mentioned that for the first time in 2005 SCM automated the process of information accumulation and correlation in accordance with IFRS, which allowed to enhance the real value of all SCM Group companies, and also simplified attraction of new investments. The representative of Turkish Accounting Standards Board introduced to the audience the experience of his country. As the result of the discussion, Deputy Director of Department of Methodology of Securities Market Regulation, Securities and Stock Market State Commission, Olena Velychko expressed opinion that at least two institutions could deal with IFRS implementation in Ukraine ñ Ministry of Finance of Ukraine and the State Agency of Ukraine for Investment and Innovations.
During section devoted to the educational system in Ukraine, participants agreed that it is necessary to improve the quality of specialistsí education in Ukrainian institutions of Higher Education. Natalia P. Krasnik, the professor of finance department at the International Institute of Business, Ph.D., Certified Auditor of Ukraine, Chair of CIMA programs (The Chartered Institute of Management Accounting, Great Britain) at IIB, took part as a speaker in this section. On experience of teaching CIMA at IIB, globally recognized professional management accounting qualification that has an emphasis on accounting for business and is the first professional body which relaunched its professional qualification to reflect the recent International Federation of Accountantís (IFAC) International Education Standards, Natalia discussed with other participants the necessity of having effective system of education for finance sector in Ukraine. CFA, ACCA and DipIFR qualifications were presented as well.
In the concluding third section the participants agreed with the necessity in setting-up up of the audit oversight body in Ukraine. Olena Makeieva, Head of the Board of the Council of Independent Accountants and Auditors, underlined: "Existence of such controlling authority could liquidate unconscionable auditors, who just sell their seals under financial statements without due auditing". Head of the oversight body of Croatia shared his Croatian experience. The audience was also introduced to the structure and functioning of German oversight body.
International experts highly appreciated contribution of the CIAA in development of accounting and auditing profession in Ukraine and expressed their willingness to continue cooperation both within the frames of IFRS implementation in Ukraine and on issues relating to set-up of audit oversight body.
