UKRAINE / RUSSIA: Relevant Announcement and Publications regarding Accounting and Audit Risks

This page will be updated on an ongoing basis so please check back regularly for the latest information. Please contact the Secretariat at secretariat@ifiar.org if your organization has published similar information so it can be included below.

Any views and opinions expressed within are those of the authors and do not reflect any official policy or position of IFIAR.

Members

South Africa

• March 30: IRBA published a newsletter relating to the Implications of the Current Developments in Ukraine and Russia on Audits and Auditors in South Africa.

United States

• March 31: PCAOB released a staff Spotlight document, Auditing Considerations Related to the Invasion of Ukraine. The Spotlight highlights important considerations for auditors of issuers and broker-dealers as they plan and conduct audits in this evolving environment.

International Organization

ESMA

• March 14: ESMA published a Public Statement on the impacts of the Russian-Ukrainian crisis on the EU financial markets, which illustrates the supervisory and coordination activities undertaken in this context and contains recommendations to issuers.
• May 13: ESMA published a Public Statement on the implications of Russia’s invasion of Ukraine on half-yearly financial reports.

Professional Bodies

ACCA

• March: The professional accountant during a time of uncertainty 

Accountancy Europe

• March 9: War in Ukraine – what European accountants need to know

CCAB (Consultative Committee of Accountancy Bodies)

• March 2: CCAB joint statement to the profession following recent and on-going developments in Ukraine

Chartered Accountants Ireland

• March 9: The Ukraine crisis: Ethical considerations for accountants

ICAEW (The Institute of Chartered Accounts in England and Wales)

• Ukraine crisis: central resource hub
• March 24: Ukraine crisis: the impact on group auditors
• March 22: Ukraine crisis: how firms need to react
• March 17: Audit guidance in response to Ukraine crisis
• March 15: War in Ukraine: the auditing implications
• March 15 : War in Ukraine: the corporate reporting implications
• March 7: Ukraine: top firms respond
• March 4: Russia sanctions: reputational risk cannot be overstated

IDW (Institut der Wirtschaftsprüfer)

• March 8: Impact of the Ukraine war on the financial statements and their audit

JICPA (The Japanese Institute of Certified Public Accountants)

• April 7 : Audit Considerations for the Fiscal Year Ended March 31, 2022 (Summary) (Regarding audit responses in light of the current international situation surrounding Ukraine)

Firms

Deloitte

• March 17: IFRS in Focus – Financial reporting considerations related to the Russia-Ukraine War
• March 15: Assessing Accounting Impacts From the Russia-Ukraine War (The Wall Street Journal)

KPMG

• March: Accounting implications of the war in the Ukraine

PwC

• March 10: Implications of the Russian government’s invasion of Ukraine