Grant Thornton to promote international auditing standards for SMBs in Ukraine

18:31

Kyiv, July 24 (Interfax-Ukraine) – The Grant Thornton Ukraine audit firm, which is part of global company Grant Thornton, is to invest in the introduction and development of international auditing standards for small and medium businesses (SMBs) in Ukraine, according to Oleksandr Chaly, the president of Grant Thornton Ukraine.

At the moment Ukraine is actively bringing national standards of reporting by large-scale companies into line with international ones, while SMBs are not involved in the process, he said at a press conference at Interfax-Ukraine on Tuesday.

Gernot Hebestreit, a Global Leader at the Business Development and Client Service, Grant Thornton International Ltd., London, UK, in turn said that international auditing standards used by large companies are too complicated for SMBs. In this connection, Grant Thornton is promoting the idea of a more simplified reporting system for SMBs, which will let them avoid considerable administrative costs for audits, while at the same time remaining transparent, he added.

Grant Thornton is one of the world’s leading organizations of independent assurance, tax and advisory firms. It has 31,000 employees in 100 countries.

Grant Thornton Ukraine joined the global chain in 2012. The company offers a wide range of auditing and consulting services, in particular, in the oil and gas sector, power generation, agriculture, metallurgy, heavy engineering, trade, and telecommunications.

24.07.2012

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