E
The global objective of this assignment is to improve the business climate in Ukraine by aligning company law, corporate governance and audit legislation with EU standards and practices. The specific objectives were: 1/ To assess the approximation level of company law, corporate governance, accounting and audit legislation in Ukraine to EU standards and practices 2/ To develop recommendations to align company law, corporate governance, accounting and audit legislation in Ukraine to EU standards. First of all, this was achieved by identifying all EU and Ukrainian legislation for analysis and preparing/updating English translation, specifically with regards to national laws regulating company and corporate legislation. Secondly, a compliance check of current company and corporate governance legislation was undertaken using a sector legal approximation guidelines (SLAG) methodological approach. Thirdly, AETS assessed the current implementation of such legislation with national stakeholders and identify any enforcement issues. A set of recommendations were formulated in order to further align Ukrainian legislation in the aforementioned areas. Last but not least, the level of implementation of relevant international auditing standards in Ukraine taking into account both legal and practical aspects was assessed.

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Economic Development

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