Financial sector news

The National Bank of Ukraine has published for public discussion a draft of updated requirements for the internal audit service of financial companies, as well as for internal auditors and chief internal auditors.

The draft provides for amendments to the Regulations on requirements for the corporate governance system and internal control system of financial companies with a view to implementing the Global Standards for Internal Auditing. In particular, the updates concern the procedure for reporting on the results of internal audits, ensuring the continuity of the internal audit service, and the continuous professional development of auditors.

In addition, the document clarifies the requirements for communication between the internal audit service and the management bodies of the financial company, approaches to planning audit activities, and requirements for internal documents on internal audit issues.
The draft also expands the list of risks taken into account by financial companies in connection with the adoption of the Law of Ukraine “On Factoring,” which will come into force on July 30, 2026.

Materials for discussion, including the draft regulatory document, a comparative table, and a regulatory impact analysis, are available on the NBU website. Comments and suggestions on the draft are accepted until December 26, 2025.