Accounting Chamber Ukraine Issues Annual Report

The Accounting Chamber of Ukraine, the nation’s Supreme Audit Institution (SAI), exercises control over public revenues and expenditures on behalf of the Verkhovna Rada of Ukraine (parliament) and carries out its activities according to the constitution and budget codes, in addition to the Law of Ukraine, “On the Accounting Chamber,” and its established principles of legality, independence, objectivity, fairness, publicity and political impartiality.

The Accounting Chamber recently issued its annual report, which reflects the activities (control-analytical and expert) carried out in 2016, as well as control measures covering 2014-2016 (some cover earlier periods of activity).

The report highlights several key facts, including:

• 644 audits;
• 96 reports prepared and approved;
• 642 control measures carried out to include the preparation of relevant acts and certificates;
• Violations and shortcomings totaling nearly Ukrainian Hryvnia (UAH) 17 billion revealed;
• Audited state funds amounted to over UAH 314 billion;
• On average, each auditor audited roughly UAH 1.2 billion in state funds;
• For 1 UAH spent from the state budget to support Accounting Chamber activities, approximately UAH 3.8 thousand were audited, resulting in 203 UAH in violations and shortcomings.

Based on control activity results, the Accounting Chamber provided recommendations to correct and improve situations; prevent future violations and shortcomings; and improve public funds efficiency, effectiveness and economy.

The Accounting Chamber’s reports and decisions were sent to the highest legislative and executive institutions, and, in response, the Verkhovna Rada adopted nine laws and five bills. Additionally, Ukraine’s government created 16 normative acts that reflected individual Accounting Chamber recommendations, and 12 cases were submitted to the Prosecutor General’s Office for decision.

A priority direction for Accounting Chamber activities is publicity. In keeping with this priority, the Accounting Chamber publicly released 3,443 documents last year in an effort to further strengthen transparency and trust.

The Accounting Chamber’s significant achievements, accumulated experience and recognition (nationally and internationally) continues to increase the efficiency and effectiveness associated with independent external state financial control; implementing International Standards of Supreme Audit Institutions; and introducing new forms, methods and directions.

The 2016 Accounting Chamber Annual Report is available here.