Ethical standards for auditors were discussed during the international seminar

24.09.2019 17:59

Seminar “Practical Implementation of the International Standards of ISSAI 30 and ISSAI 40” on the Employees Ethics of supreme audit institutions and support of the quality control system of their work has started at the Accounting Chamber. Representatives of the State Audit Office of the Republic of Latvia arrived to Kyiv to share their experience and learn the experience of Ukraine.

At the opening of the event the Secretary of the Accounting Chamber – Chief Administrative OfficerVadym Khodakovskyi noted the tradition of conducting seminars where Ukrainian auditors could gain new knowledge in the field of auditing. Thus, only last year, with the participation of experts of the State Audit Office of the Republic of Latvia, there were held two seminars in the Accounting Chamber, the issues of external financial control of local authorities and aspects of performance audit, their peculiarities and practical benefit were discussed during it. Today's event will address the practice of implementing ISSAI 30 and ISSAI 40 to Ukrainian auditors.

Vadym Khodakovskyi addressed to the seminar participants and reminded that the international standards implementation is one of the priority goals of the Accounting Chamber, defined in the Development Strategy of the Accounting Chamber for 2019–2024. The issues are extremely relevant because both ISSA 30 (Code of Ethics) and ISSAI 40 (Quality Control for SAIs) are those international standards that provide the framework for auditors’ conduct, help in routine work. In addition, the qualitative audit procedures (from planning, gathering relevant and sufficient evidence, to reporting at a high professional level) enhance the authority of the SAI.

Edgars Korcagins, the member of the Council of the State Audit Office of the Republic of Latvia, also noted that in October 10 years have passed since the signing of the agreement on cooperation between the Supreme Audit Institutions of Ukraine and Latvia. These were fruitful years of cooperation in international organizations and in the framework of bilateral relations. Therefore, Latvian colleagues expect a professional dialogue and discussion of topical issues during the seminar.


ISSAI 30 “Code of Ethics” (the Code) is an international standard INTOSAI intends to provide SAIs and the staff working for them with a set of values and principles on which to base behaviour. The Code comprises an overall approach to ethical behaviour, a description of the SAI’s overall responsibilities and the five fundamental values that guide ethical conduct: integrity, independence and objectivity, competence, professional behaviour, confidentiality and transparency.

ISSAI 40 “Quality Control for SAIs” is an international standard INTOSAI assists SAIs to establish and maintain an appropriate system of quality control which covers all of their work, which responds to their mandate and circumstances and takes into account their risks to quality. A major challenge facing all SAIs is to consistently deliver high quality audits that affects their reputation and their mandate, to fulfil its own mandate at the relevant professional level.