Requirements to the medium-sized enterprises

The extended classifier
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Determine your category
Choose the type of your enterprise from the list below to find out whether you need or not:
  • To submit the first IFRS financial statements for the year 2019
  • To apply the accounting policies pursuant to IFRS standards starting from the year 2020
  • To disclose the financial statements under IFRS
Choose the type of your enterprise
Issuers whose securities are admitted to trading on a stock market or when their securities are offered to the public
The public-interest entity shall:
  • Set up an accounting service consisting of the chief accountant and at least two employees.
  • Submit the previous IFRS financial statements for the year 2018 and the first IFRS financial statements for the year 2019.
  • Apply the accounting policy according to IFRS standards for the accounting starting from the year 2020.
  • Prepare the consolidated financial statements and the brief management report containing only financial information (reflection of the non-financial information is not required).
  • From 2018 onwards disclose the IFRS financial statements together with the auditor's report not later than the 30th of April.

Banks
The public-interest entity shall:
  • Set up an accounting service consisting of the chief accountant and at least two employees.
  • Submit the previous IFRS financial statements for the year 2018 and the first IFRS financial statements for the year 2019.
  • Apply the accounting policy according to IFRS standards for the accounting starting from the year 2020.
  • Prepare the consolidated financial statements and the brief management report containing only financial information (reflection of the non-financial information is not required).
  • From 2018 onwards disclose the IFRS financial statements together with the auditor's report not later than the 30th of April.

Insurers
The public-interest entity shall:
  • Set up an accounting service consisting of the chief accountant and at least two employees.
  • Submit the previous IFRS financial statements for the year 2018 and the first IFRS financial statements for the year 2019.
  • Apply the accounting policy according to IFRS standards for the accounting starting from the year 2020.
  • Prepare the consolidated financial statements and the brief management report containing only financial information (reflection of the non-financial information is not required).
  • From 2018 onwards disclose the IFRS financial statements together with the auditor's report not later than the 30th of April.
Joint Investment Institutions
The public-interest entity shall:
  • Submit the previous IFRS financial statements for the year 2018 and the first IFRS financial statements for the year 2019.
  • Apply the accounting policy according to IFRS standards for the accounting starting from the year 2020.
  • Prepare the consolidated financial statements and the brief management report containing only financial information (reflection of the non-financial information is not required).
  • From 2018 onwards disclose the IFRS financial statements together with the auditor's report not later than the 30th of April.
Non-State Pension Funds
The public-interest entity shall:
  • Submit the previous IFRS financial statements for the year 2018 and the first IFRS financial statements for the year 2019.
  • Apply the accounting policy according to IFRS standards for the accounting starting from the year 2020.
  • Prepare the consolidated financial statements and the brief management report containing only financial information (reflection of the non-financial information is not required).
  • From 2018 onwards disclose the IFRS financial statements together with the auditor's report not later than the 30th of April.
Other financial institutions
The public-interest entity shall:
  • Set up an accounting service consisting of the chief accountant and at least two employees.
  • Submit the previous IFRS financial statements for the year 2018 and the first IFRS financial statements for the year 2019.
  • Apply the accounting policy according to IFRS standards for the accounting starting from the year 2020.
  • Prepare the consolidated financial statements and the brief management report containing only financial information (reflection of the non-financial information is not required).
  • From 2018 onwards disclose the IFRS financial statements together with the auditor's report not later than the 30th of April.
Other NON-issuers of securities
An enterprise shall:
  • Prepare the financial statements under the IFRS or NAR(S)U.
  • Prepare the consolidated financial statements and the brief management report containing only financial information (reflection of the non-financial information is not required).
  • From 2019 onwards disclose either the IFRS financial statements or the NAR(S)U financial statements together with the auditor's report not later than the 1st of June.
    Publicly owned joint-stock companies
    An enterprise shall:
    • Submit the previous IFRS financial statements for the year 2018 and the first IFRS financial statements for the year 2019.
    • Apply the accounting policy according to IFRS standards for the accounting starting from the year 2020.
    • Prepare the consolidated financial statements and the brief management report containing only financial information (reflection of the non-financial information is not required).
    • From 2018 onwards disclose the IFRS financial statements together with the auditor's report not later than the 30th of April.
    The enterprises engaged in the extraction of mineral resources of national significance
    An enterprise shall:
    • Submit the previous IFRS financial statements for the year 2018 and the first IFRS financial statements for the year 2019.
    • Apply the accounting policy according to IFRS standards for the accounting starting from the year 2020.
    • Prepare the consolidated financial statements and the brief management report containing only financial information (reflection of the non-financial information is not required).
    • From 2018 onwards disclose the IFRS financial statements together with the auditor's report not later than the 30th of April.
    The enterprises engaged in the types of activities specified by the Cabinet of Ministers of Ukraine
    An enterprise shall:
    • Submit the previous IFRS financial statements for the year 2018 and the first IFRS financial statements for the year 2019.
    • Apply the accounting policy according to IFRS standards for the accounting starting from the year 2020.
    • Prepare the consolidated financial statements and the brief management report containing only financial information (reflection of the non-financial information is not required).
      Natural monopoly entities on the nation-wide markets
      • Prepare the consolidated financial statements and the brief management report containing only financial information (reflection of the non-financial information is not required).
      • From 2018 onwards disclose the IFRS financial statements together with the auditor's report not later than the 30th of April.
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