BDO in Ukraine completed work on a project for the Ministry of Finance of Ukraine. This project is aimed at ensuring sustainable public administration in Ukraine and is entitled “Supporting public expenditures to ensure sustainable public administration in Ukraine” (PEACE in Ukraine).
As part of cooperation with the Ministry of Finance of Ukraine, BDO in Ukraine performed a number of important tasks to ensure financial transparency and effective management within the framework of the project. First of all, the BDO in Ukraine team, led by lead key audit partner Oleksandr Nikolayenko, audited special purpose financial statements prepared by the Ministry of Finance with the participation of other interested institutions. These monthly reports on eligible costs were carefully analyzed to verify their compliance with the project standards and regulations.
In addition, BDO in Ukraine conducted additional cost validation and verification procedures to provide a written independent professional opinion on the acceptability of these project costs. These additional measures provided an additional level of objectivity and ensured that costs were used efficiently and in accordance with the established goals and objectives of the project.
As a result of this cooperation with the Ministry of Finance, BDO in Ukraine ensured reliable financial control and increased the level of trust in the management of budget funds within the framework of the project.
The project “Supporting public expenditures to ensure sustainable public administration in Ukraine” (PEACE in Ukraine) has a significant social impact and strategic importance for Ukraine. Its purpose is to ensure the administrative capacity of the Government and to ensure the provision of services at the national and regional levels. An essential aspect of this project is the ability to ensure the continuity of essential Government functions, such as assistance in paying pensions to the elderly, grants to internally displaced persons, salaries to teachers and emergency workers, as well as expenditures under several state programs to support vulnerable population groups.
It is important to note that the project is financed through non-concessional loans from the International Development Association and the International Bank for Reconstruction and Development, which is of great importance for stabilizing the financial situation in the country and ensuring its development.
An independent audit and confirmation of the acceptability of expenses are important steps in the cooperation between the Ministry of Finance of Ukraine and the team of BDO in Ukraine. These procedures guarantee transparency, efficient use of budget funds and compliance with the regulations and standards.
This testifies to the high level of trust of international organizations and donors in Ukraine, as well as to the readiness of the Ministry of Finance to implement best practices in financial management.
“We are proud that we could participate in this important project and help to ensure the stability and efficiency of public administration in Ukraine. Our team remains committed to the goal of supporting the country in achieving its strategic goals of development and prosperity,” — said Oleksandr Nikolayenko.
If you need an independent audit, contact BDO in Ukraine and our team will provide professional and reliable support. With us, you can count on high quality services, in-depth analysis and competent recommendations. Our goal is your success.
