MINSK, 2 June (BelTA) – The International Standards on Auditing will be enforced in Belarus on 1 July in line with Council of Ministers' Resolution No.308 as of 25 May 2020, BelTA learned from the National Legal Internet Portal of Belarus.
On 1 July Belarus will enact the International Standards on Auditing and the Code of Ethics for Professional Accountants of the International Federation of Accountants. The International Standards on Auditing and the Code of Ethics will be enforced in Belarus in the form of technical regulations.
The International Standards on Auditing include standards on assurance engagements, quality control, reviews, and audit reports.
The International Standards on Auditing will be binding for auditing companies' year-end financial statements compiled in line with the International Standards on Auditing.
The introduction of the International Standards on Auditing and the Code of Ethics for Professional Accountants will help improve the quality of auditing services in Belarus and facilitate integration of the Belarusian auditing system into the international professional community.
