Experts of DiXi Group organized and discussed new forms of financial statements

20 September 2018

On 18 September in Lviv and on 19 September in Ivano-Frankivsk in the framework of the USAID Transparent Energy Project, round tables "New Requirements for the Formation of Financial and Non-Financial Statements of Companies" were held. The event was organized by the DiXi Group Analytical Center and the Ministry of Finance of Ukraine. 

Within two days, the experts explained to business representatives, local administrations, territorial communities, civic activists and other guests of round tables how financial reporting will be conducted after the transition of Ukrainian extractive companies to international forms of reporting, which will take place next year. 

"With these changes, it will be clearly visible how much money from the rental fee was paid to the general budget and how much to the local one. And according to the amount of funds that was transferred by extractive companies to the local budget, it will be clear where the money was allocated and how it was used. Or it wasn’t," said Taras Tkachuk, DiXi Group Analyst.

In addition, the representatives of the Ministry of Finance presented the materials for the development of reports on management and payments in favour of the state during the round tables.

For reference only. Changing approaches to the accounting under the international standards, including for extractive companies, is one of the requirements of the Directive 2013/34/EU. The innovations were enshrined in the amendments to the Law "On Accounting and Financial Statements in Ukraine", which entered into force on 1 January 2018.

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