Photo from Poroshenko's Facebook page
Ukrainian President Petro Poroshenko has signed a bill into law to amend the Law of Ukraine on Accounting and Financial Reporting aimed at improving some provisions, according to Chairperson of the parliament's tax and customs policy committee Nina Yuzhanina.
"The adoption and enactment of this law is the next step towards the creation of a favorable business climate in Ukraine, as it will bring Ukrainian companies closer to international accounting and reporting standards," she wrote on Facebook on Saturday, October 28.
The official websites of the Ukrainian parliament and the presidential administration have not yet published information that the law has been signed.
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The law specifies periods for interim financial statements.
Also, the law, being guided by EU Directive No. 2013/34/EC of June 26, 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, exempts micro- and small-sized enterprises from a management report.
The law clarified requirements for drawing up financial statements in keeping with international standards by enterprises of public interest and enterprises engaged in the extraction of minerals of strategic deposits.