The NSSMC took part in the fifth meeting of the Steering Committee of the EU Project

On July 22, 2022 Yurii Shapoval, the Commissioner of the NSSMC, took part in the fifth meeting of the steering committee of the EU EU-FAAR project “Implementation of EU practice in accounting, financial reporting and auditing in Ukraine”.

Within the framework of the project, the National Bank of Ukraine, the Ministry of Finance of Ukraine, the Public Auditing Authority continue to cooperate on the introduction of financial reporting in a single electronic format according to the IFRS XBRL taxonomy.

The introduction of XBRL IFRS reporting has many advantages, including increasing the transparency of financial reporting and performance indicators of enterprises, free and accessible exchange of business information, increasing investment attractiveness by providing internationally understandable and comparable structured financial data.