The Memorandum of Interaction, Cooperation and Coordination of IFRS Implementation Efforts in Ukraine, signed by the Ministry of Finance of Ukraine and the National Bank of Ukraine and then endorsed and signed by the USAID Financial Sector Development Project (FINREP), the Ukrainian Federation of Professional Accountants and Auditors (UFPAA), the Academy of Financial Management, the Federation of Auditors, Accountants and Financiers of the Agricultural and Industrial Complex of Ukraine (FAAF AICU), the Union of Tax Consultants of Ukraine, the Council of Independent Accountants and Auditors (CIAA), the Ukrainian Association of Certified Accountants and Auditors (UACAA), the Union of Auditors of Ukraine (UAU) and a number of other companies and educational institutions, sets out ten areas of interaction. One of such areas is the creation of an Internet – resource with free access for end-users, which will ensure that they receive relevant and useful information about IFRS, legal aspects and IFRS application practices in Ukraine and allow for interactive communication in an open forum to discuss web-site postings and other practical aspects of IFRS application.
In developing, launching and operating this Internet-resource, the Ministry of Finance of Ukraine is supported by the FINREP Project funded by U.S. Agency for International Development (USAID) and implemented by Booz Allen Hamilton Inc. One of FINREP’s activities in the financial sector is the promotion of IFRS implementation in Ukraine. In cooperation with all financial sector regulators and key professional accountancy bodies, FINREP participates in educational and awareness efforts, supports the development of IFRS application material and activities of the IFRS Review Committee composed of accountancy experts to ensure that there is an updated official Ukrainian translation of all IFRS texts and interpretations.
For the full text of the Memorandum of Interaction, Cooperation and Coordination of IFRS Implementation Efforts in Ukraine and appendix to it, please visit the Ministry of Finance of Ukraine website, – in Ukrainian, the FINREP website – in English.
FINREP asks all accounting professionals who have appropriate knowledge and experience in developing such Internet-resource to contact FINREP or any of the signatories to the Memorandum of Interaction, Cooperation and Coordination of IFRS Implementation Efforts in Ukraine and take part in creating this Internet-resource.