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PrivatBank compiles its financial statements in strict accordance with:
- international standards,
- regulatory and legal acts issued by the National Bank of Ukraine.
The purpose of the Bank’s financial statements is to provide a wide range of users with accurate and unbiased information on assets, liabilities, equity, cash flows, income and expenses (including profits and losses) and other data.
The choice of audit company for bank’s financial audit according to the IFRS is made on the annual basis. The selection of an independent auditor is carried out in accordance with the Procedure on selection of the audit company, which was approved by the minutes of the Bank's Supervisory Board No. 68/22 dated 18.11.2022. The results of the analysis with the proposals of the management are submitted for consideration by the Audit Committee under the Supervisory Board of the Bank. The Supervisory Board takes a decision that becomes the basis for audit contract for the following year.
Since 2016 the Bank’s international auditor is Ernst&Young. According to the results of the competitive selection of an independent auditor for the provision of services for the mandatory audit of the annual financial statements of JSC CB "PRIVATBANK" for the year 2022, Ernst&Young was chosen.
Ernst&Young is the world leading professional services supplier, and is one of the companies of the "Big Four".
Procedure on selection of the audit company
Announcement of competitive selection of an independent auditor for conducting audit procedures of JSC CB “PRIVATBANK“ for 2023-2025 with the possibility of extending the provision of services for the next two years.
Announcement of an independent auditor for 2023-2025