EY in Ukraine: moving ahead

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1 EY in Ukraine: moving ahead

2 Building a better working world At EY we are committed to building a better working world one with sustainable growth, development of talent in all its forms and greater collaboration. Every day, thousands of EY professionals engage in an extraordinary range of activities that grow the economies in all markets in which they operate. We help our clients improve and grow, optimize their operations. We help in our communities, assist entrepreneurs in bringing their products and ideas to fruition, develop and inspire leaders who play critical roles in society, and give back to the communities in which we work and live in many different ways.

3 EY in Ukraine We help our clients deliver on their promises to their markets and stakeholders. With over 190,000 people in 150 countries, EY can bring together the right teams at the right time, wherever our clients are based. In Ukraine, over 400 specialists provide high-quality services through office in Kyiv. Our experience and depth of knowledge has allowed us to assist both domestic and international companies, as well as stateowned entities, in facing the new challenges of the global economy. Our clients know that we understand their specific needs and contribute to their success by providing quality and integrated services. EY is committed to advising Ukrainian companies and helping them develop their businesses, thus contributing to the economic success of Ukraine. Our investments in world-class learning and development programs give our people the right technical and leadership skills throughout their careers to help clients achieve their potential. We continually invest in methodologies and technology to promote the delivery of seamless, consistent, high-quality client service worldwide. Our unwavering commitment to quality and risk management is supported by a variety of policies, procedures and tools. This means our clients can be confident of high-quality work. Our industry centers draw upon teams of professionals from across our global organization with deep technical and industry experience. They help clients by anticipating trends, identifying their implications and developing points of view on relevant industry issues. We recognize that entrepreneurship is an ever-increasing force for positive economic and social change. Our commitment to promoting entrepreneurial growth makes a difference by helping to address broader societal issues such as unemployment, supporting the growth of local economies and creating a context in which business can thrive. In our more than 25 years in Ukraine, we have provided critical information and trusted resources to pave the way for improved business performance and profitability. EY in Ukraine: moving ahead 1

4 Our major services: Assurance Advisory Tax Transactions Assurance The quality of our audit starts with our Assurance professionals, who have the breadth of experience that comes from auditing many of the world s leading and most dynamic companies, and to whom we provide the best available ongoing personal and professional development. We provide consistent worldwide audit by assembling the right multidisciplinary teams to address the most complex issues, using a proven global methodology and deploying the latest high-quality auditing tools and perspectives. To achieve your potential, you need tailored service as much as a consistent methodology. We work to give you the benefit of deep sector knowledge from our subject matter experts and the latest insights from our worldwide experience. That s how EY makes a difference. External Audit The features of our approach that make EY the auditor of choice include our Global audit methodology and documentation approach, which combine our methodology and technology tools to assist our professionals in delivering a consistent, high-quality audit anywhere in the world. We strive to achieve excellence in audit execution and we train our teams to appropriately apply our proven methodologies and tools. Their personal commitment to compliance with the highest professional ethics and standards and our firm s quality controls combine to create the foundation of our professional excellence. EY s Assurance services are customized to meet a company s assurance needs. We conduct audits of financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and other country-specific accounting standards (e.g., US GAAP) as well as the accounting principles applied in Ukraine. Our services also include reviews, compilation services, attestation reports, agreed-upon procedures and capital market assistance. EY s experienced professionals are certified in local and international accounting procedures, have Ukrainian statutory licenses and are CPA, ACCA and ACA certified. Our people in Ukraine are familiar with the requirements of the main markets, including those of the US Securities and Exchange Commission and the Financial Services Authority in the United Kingdom as well as regulatory bodies in Ukraine and all CIS countries. 2 EY in Ukraine: moving ahead

5 Accounting and Financial Reporting As the convergence of accounting and auditing standards around the world continues, access to key accounting and auditing guidance is critical for your business and for implementing your audit efficiently and effectively. EY Online gives you access to a rich library of guidance and provides valuable insights for audit committees, chief financial officers, controllers, financial reporting groups and internal audit directors. In addition, IFRS Centers of Excellence, or IFRS Desks, are established in each significant country and region, with a team in London coordinating all global IFRS work. To assist you with the challenges of converting to or reporting in IFRS, EY provides publications, useful tools and IFRS resources as well as up-to-date information on IFRS via our Internet site, newsletters, conferences and publications in particular, International GAAP, which is the most comprehensive reference on the implementation of IFRS, and available in both English and Russian. The quality of our audits starts with the professional excellence of EY s people, to whom we provide the best available ongoing personal and professional development. 3

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7 Financial Accounting Advisory Services The issues involved in preparing financial statements have been and remain quite complex due to frequent changes in statutory principles and IFRS. Our Finance Accounting Advisory Services teams help clients to use best practices from accounting, bookkeeping and finance management in their operations by creating efficient systems for accounting, planning and the use of financial information. Our Finance Accounting Advisory Services professionals provide clients with accounting support for finance functions, including outsourcing of ongoing accounting operations, assistance in transition to IFRS and the design of processes and tools to streamline the transformation of statutory accounts into IFRS and the preparation of consolidated IFRS financial statements. Our accounting services include accounting, financial and management reporting; statutory accounting and tax compliance; and financial control and development of accounting methodologies and processes. Fraud Investigation and Dispute Services Our dedicated professionals all over the world (including professionals in Central Europe and the CIS) help companies to manage risk and deal with disputes. Our specialists include trained fraud examiners, forensic accountants and electronic data analysts. In Ukraine and CIS countries, fraud is perceived differently than in other countries. This means that it is extremely important to take local specifics into account when dealing with fraud-related issues. Our professionals in Ukraine are ready to apply their leading experience and knowledge of local specifics to bring you customized solutions to your dispute and fraud-related issues. To assist you in dealing with fraud issues effectively, we offer a wide range of services, including Fraud & Investigation Services, Dispute Services and Legal Technology Services. Cleantech and Sustainability Services Companies are paying increased attention to their business reputations given today s rapidly changing economic environment and the confidence crunch they are looking to be good and green. Most organizations understand that focusing exclusively on the financial aspects of business is not enough for success. Building up social capital and a proactive approach to corporate social responsibility (CSR) can not only promote a company s image but also strengthen the trust of shareholders, investors and other stakeholders. EY has profound experience in dealing with such sustainability issues as environmental footprint (including climate change), health and safety, community involvement and business ethics. We help clients in assessing the relevant risks and positioning with key stakeholders, in preparing CSR reports, policies and programs and in verifying nonfinancial data (including greenhouse gas emissions). EY in Ukraine: moving ahead 5

8 Advisory We offer insight, innovative ideas and objective advice to help you achieve tangible results wherever you do business. EY s Advisory practice comprises professionals with exceptional experience in addressing a broad spectrum of business tasks. Over 300 companies across the CIS trust us to address issues they encounter in doing business. Our Advisory professionals possess a wealth of experience in bringing performance improvements and business value to our clients, reducing costs, managing risks, operating state-of-the-art IT systems and successfully accomplishing operational and strategic objectives. A dedicated team will develop each project based on the specific features of the industry and the client. Performance Improvement To meet their potential, organizations must continuously improve the performance of their key business processes while addressing current problems. Complex organizations require an independent view in their assessment of areas for improvement. EY s professionals have extensive experience in helping companies in Ukraine and worldwide to achieve performance improvements. We focus on finance, supply chain, customer, people and organization and IT Advisory to help you deliver sustained improvement in the performance of your business. Risk Effective risk management not only protects existing value, but also results in better value by connecting risk processes and sharing critical data. We help our clients integrate their risk and control environments to create a competitive advantage through practical yet valuable improvements in the way risk is managed. IT Risk and Assurance IT operation is vital for the success of any organization today. This is exactly why effectively managing information technology and IT-related risks becomes ever more important for a company s management and stakeholders. To this end, EY uses best-in-class tools and methodologies to identify, measure and control IT risks. Our team includes CISA, CISSP, ITIL and MBCI certified professionals and accounting specialists with extensive experience in integrated projects in various sectors of the economy in Ukraine. 6 EY in Ukraine: moving ahead

9 Academy of Business The EY Academy of Business is a leader on the Ukrainian and CIS market for professional and continuing professional education. The Academy of Business has been offering courses and training in Ukraine for over 20 years. Today the Academy of Business offers the following services: open training (over 70 training topics); preparatory programs for international qualifications (DipIFR (Rus), ACCA, CFA ); and corporate education. Training is carried out in open-enrollment and corporate (in-house) formats. Most of the programs offered can be tailored to accommodate industry specifics. The Academy of Business is approved as an ACCA Platinum Approved Learning Partner and an ACCA Registered Continuing Professional Development (CPD) Provider. The EY Academy of Business in the CIS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education (CPE Sponsor) for specialists with CPA, CMA, CFA and CIA qualifications. EY in Ukraine: moving ahead 7

10 Tax In one country or many, we can provide you with integrated, consistent, quality service that unlocks the potential of your compliance function with tax and legal compliance, statutory account preparation and tax accounting calculation support. Your business will only achieve its true potential if you build it on strong foundations and grow it in a sustainable way. At EY, we believe that managing your tax obligations responsibly and proactively can make a crucial difference. Our teams of talented people in different countries bring you technical knowledge, business experience and consistent methodologies, all built on our unwavering commitment to quality service, wherever you are and whatever tax services you need. Business Tax Our Business Tax Advisory services are designed to meet your business tax compliance and advisory needs. We give you seamless service throughout all the challenges of tax planning, tax compliance, tax accounting and maintaining effective relationships with the tax authorities. Our market-leading approach combines extensive experience in 150 countries. EY offers an integrated approach to providing tax and legal assistance to clients in Ukraine and abroad. Tax Accounting and Risk Advisory Services help in supporting regular tax provision calculations, validating tax balance sheet accounts and implementing new IFRS and/ or local GAAP accounting standards. Our tax function performance professionals assist you in improving operating strategy, organization design, tax process and controls as well as data and systems effectiveness. And our experience in managing tax risk can help you identify and prioritize key risks, assisting with controls monitoring and remediation. EY s Tax Policy and Controversy group provides support to businesses in tax disputes with the authorities. Our tax and legal professionals have gained extensive experience representing our clients in disputes with tax, customs, and antimonopoly authorities on a wide range of issues. In the tax sphere, the most frequently encountered issues include offset of input VAT related to export and domestic sales, VAT and other tax refunds and deductibility of various business expenses. 8

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12 As your organization grows, getting the right people in the right place when you need them is what gives you a competitive advantage. Our multidisciplinary People Advisory Services team focuses on facilitating effective human resources management. People Advisory Services Our Global Mobility professionals can provide a full range of services to help you manage local staff and international assignees and reduce costs and risks while improving service to them. Supported by an integrated global network of specialists, we will provide support and advice on global immigration, labor and tax issues as well as obtain permits and provide advice on social security and retirements benefits. We will work with you to develop a policy framework, help you initiate processes to make it happen and create an infrastructure to support the entire program. Our Performance and Reward specialists can design compensation programs for employees and executives that will help meet your corporate objectives, including staffing models, overall compensation strategy, benchmarking, employee performance appraisal, equity design and implementation of incentive plans and assistance with other operational issues and change management. We will help you create and implement longterm equity-based reward programs that can improve business performance by aligning employee motivation with business objectives and shareholder interests. We also can provide outsourcing of payroll computation services, reporting and compliance, assistance with tax audits and comprehensive payroll health checks. Our specialists offer due diligence of the whole HR management function as well as its major components: recruitment, training and development, employee performance appraisal and compensation and benefits. The People Advisory Services Academy develops and conducts a number of open and corporate training programs on various issues of human capital management. Indirect Tax Indirect taxes, in particular VAT and customs duties, affect the supply chain and the financial system. They pose unique challenges to multinational tax functions, since they must be managed accurately and in real time. These taxes can significantly impact cash flow, absolute costs and risk exposures. The global approach of EY s Customs and International Trade group brings together our best people and global knowledge to serve our clients with value-driven strategies that enable you to pay the right amount of tax, avoid risk and speed up the supply chain anywhere in the world. From import and export process design and systems implementation to the use of beneficial customs regimes and trade treaties, we understand that your business needs both risk management and strategic planning calibrated to maximize the global bottomline benefit and designed to provide global consistency. 10 EY in Ukraine: moving ahead

13 International Tax In the current challenging environment, executives are looking to align their global tax position with their overall business strategy in order to maintain a competitive advantage and provide value to shareholders. Our multidisciplinary teams help you assess your tax strategies and exposures, assisting with international tax issues from forward planning and reporting to maintaining effective relationships with the tax authorities. Our dedicated Cross Border Advisory tax professionals assist our clients with their cross-border tax structuring, planning, reporting and risk management. We work with you to build proactive and truly integrated global tax strategies that address the tax risks of today s businesses and achieve sustainable growth. We provide support in the course of tax planning of securities transactions, doing business on capital markets and initial public offerings (IPO). Our Transfer Pricing and Tax Efficient Supply Chain Management specialists work with you on supply chain design, business restructuring, systems implications, transfer pricing, direct and indirect tax and customs and accounting. We can help you build and implement a structure that makes sense for your business, improve your processes and manage the cost of trade. Our transfer pricing professionals help you review, document, manage and defend your transfer pricing policies and processes, aligning them with your business strategy. EY in Ukraine: moving ahead 11

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15 Transaction Tax Every transaction has tax implications, whether it s an acquisition, disposal, refinancing, restructuring or initial public offering. Understanding and planning for these implications can mitigate transaction risk, enhance opportunity and provide crucial negotiation insights. Our Transaction Tax Services comprise a network of professional advisors, combining diverse cross-border transaction experience with local tax knowledge across a broad spectrum of industry sectors. We can help you make informed decisions and navigate the tax implications of your transaction. Our local team employs a consistent approach to provide you with a coordinated understanding of the relevant jurisdictional and multidisciplinary tax issues. And we can suggest structuring alternatives to balance investor sensitivities, promote exit readiness and help improve prospective earnings or cash flows. Law The regulatory and legal environment in Ukraine is extremely dynamic and transactions are becoming increasingly complex especially when they involve multiple jurisdictions. Our network of lawyers provides integrated legal and business solutions to clients. Our attorneys in Ukraine combine an indepth knowledge of international and domestic laws with a practical understanding of the political, cultural and commercial realities of the Ukrainian market. The legal services that we provide are an integral part of our business and help us to counsel clients on complex cross-border and domestic transactions in conjunction with EY s professionals in taxation, human capital, corporate finance and business advisory services. Immigration services Our talented and experienced people provide a wide range of immigration and tax services to individuals who are planning to move, get residence permits or to invest abroad. If you are looking for a stable environment for investing capital, new business opportunities or want to change your citizenship, we would be happy to make this process efficient and comfortable. EY in Ukraine: moving ahead 13

16 Transactions We combine our global network with local industry insights to help you thoroughly analyze all aspects of a potential transaction in the context of your business strategy and capital agenda. With transaction professionals worldwide and our experience with thousands of different types of transactions across all markets and industries, we re ideally placed to bring together the people you need, wherever you need them. Lead Advisory The EY Lead advisory team provides you with assistance in raising finance, in mergers and acquisitions and in infrastructure and real estate transactions. Whether you are contemplating a buyside or sell-side transaction, we can help you find the right partner and negotiate, structure and close the deal. We work with you to achieve your strategic objectives across mergers and acquisitions, disposals and management buyouts, capital and raising debt. Across the world, companies and governments are looking for the right way to finance infrastructure development projects. Project finance is one of the financing options available to sponsors of long-term investment projects. The services our specialists offer include advisory on Public Private Partnerships, business plan and financial model development, financial analysis and transaction structuring, raising finance and assistance with negotiations. In close cooperation with our clients, we develop strategies for acquiring, developing and disposing of infrastructure and real estate assets. Whether you are assessing the feasibility of a project, seeking financing or refinancing or acquiring or disposing of infrastructure assets, we are ready to assist in structuring and closing your successful deal. Restructuring Our services are focused on financial and operational restructuring, where we help companies, their creditors and investors improve their total expected return in times of stress or distress. We support you in managing the work-out or turnaround processes and in providing the information and analysis necessary for making the right decisions. We help you improve cash flows and release value in current capital accounts (receivables, payables, inventories), thereby improving overall liquidity and offering effective strategies for managing credit lines. We also help to achieve the financing structure which is right for a business and support debt restructuring with steps aimed at increasing the operational efficiency of a business. 14 EY in Ukraine: moving ahead

17 Transaction Support Successful transactions can help your company grow, compete and increase profitability. For every type of deal acquisition or divestiture, restructuring, joint venture or IPO our global team of experienced professionals can help you achieve your goals. Our transaction support team can help you by assessing the potential value and risks associated with a transaction. We help you to identify key valuation drivers, improve deal structures, mitigate risks and challenge assumptions about future performance. Through an analysis of financial and operational data, transaction support professionals provide insights to key decision makers at transacting companies, helping them to maximize value and reduce the risks and uncertainty surrounding transactions. We work with many leading organizations, the fastest growing companies and private equity firms on some of the most complex deals in the global market. Our transaction professionals provide financial, tax, IT, operational, HR, commercial and legal due diligence. We provide an integrated approach to help you make your transaction a success. EY s local capabilities and global vision help you make the best deal possible. Our global reach means that, wherever you are in the world, we can help you get the facts you need to achieve the value your investors expect. Valuation and Business Modeling Valuation and Business Modeling professionals help you understand the value of your business, securities, intellectual property, capital equipment, brand name, and other assets. Our market-leading Valuation and Business Modeling team focuses on your needs to improve growth, profitability and competitiveness. We help you carry out the model building, model support and model review services you need to make strategic decisions. EY s professionals can apply their commercial judgments and technical skills to a wide range of complex valuation and business modeling situations, wherever you are in the world. Our major offerings include business valuation, intellectual property valuation, business modeling and asset valuation. Real Estate Advisory Services EY s Real Estate Advisory Services group delivers practical advice for your business needs. We apply progressive methodology to valuation services, as well as provide independent and objective advice, since we are driven not by transactions in the market but exclusively by your business needs. EY s professionals have proven experience working with major real estate users, investors, developers, owners and operators in Ukraine. Our key services include real estate valuation, preparation of economic feasibility studies, analysis of highest and best use, concept creation, optimization of users real estate portfolios, determination of the best business location, hotel business advisory services, real estate financing, services to real estate funds, development and project management. EY in Ukraine: moving ahead 15

18 Industry expertise To achieve your potential, you need fast, easy access to the information and people that can help you make the right decisions. That s why we ve invested in dedicated Global Industry Centers around the world centers that serve as virtual hubs for sharing industry-focused knowledge and experience. Our commitment of time and resources means that we can anticipate market trends, identify implications and develop clear points of view on industry issues. In the context of market uncertainty, we are ready to provide companies in various industry sectors with balanced corporate management solutions. EY s team has extensive experience assisting companies in restructuring, managing integration during a downturn and performing express liquidity management analysis. We offer best practices and thought leadership in advising businesses on effective management in the current situation. Whatever your industry, our global network of professionals can provide you with highly responsive advice that meets your assurance, advisory, tax and legal and transaction needs. Our industry teams are tailored to best suit your particular needs while taking into account the main factors influencing your business. Our industry specialization in Ukraine covers the following key sectors: Asset Management Automotive Banking & Capital Markets Consumer Products Diversified Industrial Products Government & Public Sector Insurance Life Sciences (includes Biotechnology, Pharmaceutical and Medical Technology) Media & Entertainment Mining & Metals Oil & Gas Power & Utilities Private Equity Real Estate (includes Construction, Hospitality & Leisure) Retail & Wholesale Technology Telecommunications Transportation 16 EY in Ukraine: moving ahead

19 Doing business wherever you are Our Ukrainian practice is part of the EMEIA Area of our global organization, which operates across Europe, the Middle East, India and Africa and brings together over 84,000 people in 12 regions. We do business wherever you are and wherever you plan to expand your business. Contacts Kyiv Khreschatyk Street, 19A Kyiv Tel.: Fax: EYUkraine EYUkraine EYUkraineCareers EYUkraineCareers

20 EY Assurance Tax Transactions Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY works together with companies across the CIS and assists them in realizing their business goals. 4,500 professionals work at 20 CIS offices (in Moscow, St. Petersburg, Novosibirsk, Ekaterinburg, Kazan, Krasnodar, Rostov-on-Don, Togliatti, Vladivostok, Yuzhno-Sakhalinsk, Almaty, Astana, Atyrau, Bishkek, Baku, Kyiv, Tashkent, Tbilisi, Yerevan and Minsk). EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. 25 years in Ukraine 2016 Ernst & Young LLC. All Rights Reserved.