CALCULATOR
FOR CALCULATING
THE COMPANY CATEGORY
According to the Law “On Accounting and Financial Reporting in Ukraine”, large and medium-sized enterprises must undergo a statutory audit for 2023.
To determine the category to which the company belongs in the 2023 reporting year (large, medium or other), please provide the financial statements for the two previous years in thousands of UAH:
1. Book value of assets (balance sheet, line 1900).
2. Net income from selling products, goods, works, and services (PnL, line 2000).
3. Average number of employees (indicated at the top of the balance sheet).
Based on the results of the calculation, your entity belongs to the category of large entities for the 2023 reporting year (according to Article 2 of Law No. 996 On Accounting and Financial Reporting in Ukraine). As a public interest entity, you shall have an audit of the financial statements for 2023 under IFRS conducted. For more details, see the section on audit of public interest entities under IFRS.
Based on the calculation results, your company for the 2023 reporting year belongs to the category of medium entities (according to Article 2 of Law No. 996 On Accounting and Financial Reporting in Ukraine). It would help if you had the audited financial statements for 2023. For more details, see the section on auditing medium entities under NR(S)A.
Based on the calculation results for the 2023 reporting year, your entity belongs to the category of small or micro-entities (according to Article 2 of Law No. 996 On Accounting and Financial Reporting in Ukraine). You currently do not need a statutory audit to be conducted for 2023. However, you may have a voluntary audit conducted to attract investments or at the request of banks and creditors.
Unfortunately, we were unable to determine the business category based on the automated calculation. For additional information from Kreston Ukraine experts, please provide your contact details using the feedback form.
Attention! The information provided results from an automated calculation and is not considered a consultation. To receive additional input from Kreston Ukraine experts, please leave your contact details in the feedback form.
Please note that regardless of financial indicators, the following categories of public interest entities are also subject to statutory audit:
- issuers of securities whose securities are admitted to trading on the regulated capital market or whose securities have been publicly offered;
- banks, insurance businesses, non-government pension funds;
- other financial institutions (except for other financial institutions and non-government pension funds belonging to micro-enterprises and small enterprises).