Business

In Ukraine, grant funds are checked in one of three formats: agreed-upon procedures under ISRS 4400 (Revised), an assurance engagement under ISAE 3000 (Revised), or an audit of the project's financial statements, carried out as a special purpose audit or an audit under GAGAS. The format is set by the donor's grant agreement. For EU grant contracts for external actions, the General Conditions (Annex II) expressly require an expenditure verification report following the Annex VII model. That means agreed-upon procedures: the practitioner reports factual findings, and the contracting authority…

The cost of a financial statement audit in Ukraine is not regulated by the state. There are no official rates: the price is built as a budget of team hours for a specific scope of procedures. The only publicly verifiable guide to price levels is public procurement. On Prozorro, Ukraine's public procurement system, the expected value of audit services for annual financial statements ranges from UAH 80,000 for a small municipal buyer to UAH 9,000,000 for a multi-year engagement at a large financial institution. The actual figure depends on measurable factors, set out below. Why audit…

Tax officials in an individual tax consultation explained: since a resident pays tax at his own expense at a rate of 20% of the amount of payments to non-residents for the production and / or distribution of advertising, regardless of where the non-resident provided such services, the rules of international treaties in terms of reducing (exempting) the amount of tax do not apply to payments to non-residents.Fiscal authorities reminded that the application of the rules of international treaties of Ukraine is carried out by the exemption from taxation of income…

Every business needs accounting, and IT companies are no exception. Close attention to the books is needed at product companies, IT outsourcing firms and consultancies that develop and implement their own software. If you need accounting services, a full-time hire is optional: an outsourced specialist can do the job. Benefits of accounting services Accounting services bring your business many benefits. A qualified, experienced specialist can cover the full range of accounting work: reviews the company's operations, tax burden and allocation…

Accounting and tax questions are sometimes too complex for someone without specialist training to work out. Yet you need to understand them. If you want to optimise your tax set-up, allocate costs properly and have financial statements prepared without doing it yourself, it makes sense to order accounting services. An experienced specialist who knows the laws governing financial activity is essential for a business to operate successfully and lawfully. Here is why. Benefits of hiring an accountant Proper accounting helps you avoid mistakes that come from not knowing the rules.…