Published
11/04/2025, 15:09The Financial Market Regulation and Supervision Service announced the official revocation of previously issued licences for auditing activities.
The measure is aimed at complying with the requirements of the Law ‘On Auditing Activities’ dated 3 December 2021, which established a new procedure for registering and admitting auditing organisations to work. According to the document, auditing companies, including those that audit public interest entities and large enterprises, are only granted the right to operate after registration in the Unified State Register.
Audit organisations are now identified by an individual registration number (IRN) assigned upon registration. The use of previous licences and their mention in contracts, reports or other official documents is prohibited by law.
Finnadzor emphasises that all audit companies are required to surrender the physical forms of previously issued licences for recording and subsequent cancellation. Failure to surrender invalid documents will be considered a violation of audit legislation and may result in administrative measures.
