1. Features and importance of international auditing standards for companies operating in global markets Researcher: Oleksandr Tkachov Scientific supervisor: E. Diadko Language consultant: G. Miasoid ALFRED NOBEL UNIVERSITY, DNIPROPETROVSK DNIPROPETROVSK 2015

2. CONTENT CHAPTER 1. INTERNATIONAL STANDARDS OF AUDITING, THEIR ROLE AND ESSENCE FOR ECONOMIC RELATIONSHIPS. CHAPTER 2. PJSC CB "PrivatBank“ STRUCTURE ANALYSIS. COMPANY’S AUDIT PROCESS ANALYSIS. CHAPTER 3. PROBLEM OF INCONSISTENCY BETWEEN IFRS AND NFRS AND THE WAYS OF ITS SOLVING. 2

3. The aim of diploma paper is to overview and analyze the audit process and to consider implementation of international standards in Ukrainian enterprises. The subject of investigation is improvement of audit process in PJSC CB "PrivatBank“ The object of study is international experience of audit providing and financial reporting disclosure with the possibility of it’s implementation on Ukrainian enterprises. Purpose Object Subject 3

4. INTERNATIONAL STANDARDS OF AUDITING, THEIR ROLE AND ESSENCE FOR ECONOMIC RELATIONSHIPS IFRSNFRS National auditInternational audit 4

5. PJSC CB «PrivatBank» STRUCTURE ANALYSIS. COMPANY’S AUDIT PROCESS ANALYSIS №1 bank in Ukraine by deposits The most developed IT services The biggest bank in Ukraine by people employed Bank №1 by ATMs set The national leader in plastic cards issuance PrivatBank today is: 5

6. PJSC CB « PrivatBank » STRUCTURE ANALYSIS. COMPANY’S AUDIT PROCESS ANALYSIS Main differences between IFRS and NFRS TitleIFRS 31-Dec-2014, mln UAH Total assets212 813 Total liabilities188 317 Total equity24 497 Loans and advances to customers 157 349 Customer accounts140 680 TitleNFRS 31-Dec-2014, mln UAH Total assets204 712 Total liabilities193 392 Total equity11 320 Loans and advances to customers 155 349 Customer accounts145 573 6

7. PROBLEM OF INCONSISTENCY BETWEEN IFRS AND NFRS AND THE WAYS OF ITS SOLVING 7

8. Lack of qualified professionals; The problem of promulgation of separate standards; IFRS general complexity; Permanent changes to IFRS; Absence of official translations. Main problems in transition to IFRS 8

9. PROBLEM OF INCONSISTENCY BETWEEN IFRS AND NFRS AND THE WAYS OF ITS SOLVING To provide competitive salary; To provide high quality trainings on timely basis; To highlight IFRS problems on official level. The ways of transition problems solving 9

10. CONCLUSION Therefore, only taking into consideration all mentioned above ways of transition problems solving, the bank can expect effective and low-priced audit with positive opinion. And only with positive opinion of reputable audit firm, the bank can expect significant increase in investments. 10