In a market economy development, with accounting being reformed to meet international standards, the audit activity in Ukraine is becoming widely practiced.

According to Art. 3 and Art. 4 of the Law of Ukraine “On Auditing”, only auditors and audit firms can be engaged in the audit activity, that is individuals or groups of people having a certificate that determines their qualification suitability to practice auditing in Ukraine.

Getting an auditor competence certificate is a necessary condition for working in the field of verifying the conformity of accounting data to the financial indicators reported by the entity. The certificate verifies that this job is done by a qualified person who has completed the required theoretical course and practical training, and been certified by the staff certification institution in prescribed manner.

One’s qualification suitability to be engaged in auditing is determined by checking the conformity of his/her education level and experience to the requirements of the Law of Ukraine “On Auditing” and his/her passing a written qualification exam. Auditors are certified by the Audit Chamber of Ukraine (ACU).

The training program for taking the qualification exam and getting the certificate of the auditor of Ukraine includes the questions on:

The purpose of the qualification exam is to objectively determine whether the candidates have the required knowledge to get certified as an auditor. The qualification exam is two-staged: the first stage is a written test (or tests on a PC) on the list of questions approved by the ACU; the second stage is to solve a situational problem.

The candidates who have scored at least 70 points while being tested proceed to the second stage. The candidates who scored 60 points or more at the second stage, pass the exam and have the right to get the auditor certificate after the exam protocol has been approved at the meeting of ACU.