Transcript internal audit

GREETINGS DEAR COLLEAGUES
RSM International Conference, Singapore 2007
THE “APIK” GROUP
RSM International Conference, Singapore 2007
UKRAINE
Geography
Ukraine is the second-largest country
in Europe, after Russia, with an area
of 603,700 sq km. It ranks 43rd in the
world in terms of size and 25th in
terms of population.
RSM International Conference, Singapore 2007
OVERALL FACTS
Recent History
Although the geographical name
“Ukraine” was first used in the 11th
century, people living in this territory have
enjoyed relatively short periods of
independence, and the idea of Ukrainian
nationalism did not evolve significantly
until the break-up of the USSR.
Government and Politics
Along with many new democracies in
Eastern Europe, Ukraine adopted a
semi-presidential system, based on
the Belgian model, with separate
powers vested in the legislature,
executive and judiciary.
President: Viktor Yushchenko
Prime minister: Viktor Yanukovych
RSM International Conference, Singapore 2007
KEY GENERAL INDICATORS
•
•
•
•
•
•
•
•
•
•
•
Population: 47.8 million (UN, 2005)
Capital: Kiev
Area: 603,700 sq km (233,090 sq miles)
Major languages: Ukrainian (official), Russian
Major religion: Christianity
Life expectancy: 65 years (men), 75 years (women) (UN)
Monetary unit: 1 hryvnya = 100 kopiykas
Main exports: Military equipment, metals, pipes, machinery, petroleum products,
textiles, agricultural products
GNI per capita: US $1,520 (World Bank, 2006)
Internet domain: .ua
International dialling code: +380
RSM International Conference, Singapore 2007
KEY MACROECONOMIC INDICATORS
• Nominal GDP, UAH billion
• Real GDP, % growth
• Consumption, % change
• Investment, % change
• Export, % change
• Import, % change
• GDP deflator, % change
• CPI, % change eop
• Current Account Balance, % GDP
• Terms of Trade, % change
• Fiscal balance, % GDP
• External debt, % GDP
• Public and Guaranteed Debt, % GDP
• Commercial banks' prime rate, av.;%
• Exchange rate UAH:USD, av.
• Exchange rate UAH:EUR, av.
RSM International Conference, Singapore 2007
606,1
6,8
3,4
10,9
5,9
6,6
11,1
10,7
-4,1
-5,3
-3,1
41,7
17,6
14
5,05
7,18
GENERAL INFORMATION

Audit Company "APiK" (an abbreviation from the Ukrainian words "Audit services and consulting") was
created in July 1993. During the period of company's activity our specialists have provided audit services to
more than 400 companies and 70 banks.

APiK is one of the leading audit companies in the Ukrainian markets of audit and consulting services.

The Company's main areas of activity are the provision of various types of audit and related services to
commercial banks. In addition APiK provides specialized consulting services. Since its establishment, the
Company has developed good relationships with over 70 Ukrainian and foreign banks.

Our Company is the only audit company in Ukraine, which has become a member of Association of
Ukrainian Banks and of the League of Insurance Organizations of Ukraine.

APiK has lengthy experience of work with large joint-stock companies and state enterprises specializing in
the most important areas of the economy (fuel and energy complex, technical connection and
telecommunication, insurance business, and the like.). During the last few years, we made significant
progress, as the auditor of large joint-stock companies such as JSC "Ukrtelecom", CJST Kyivstar GSM,
Lactalys-Ukraine and others.
RSM International Conference, Singapore 2007
CLIENTS’ INFORMATION
We have provided our services to eleven of the top 20 largest banks in
Ukraine based on the volume of their net assets according to the
ratings compiled by the Association of Ukrainian Banks on August,
2007. They are :
RSM International Conference, Singapore 2007
BANKS
RAIFFEISEN BANK AVAL
7 510,39
UKRSOTSBANK
5 250,93
UKREXIMBANK
4 791,58
PROMINVESTBANK
4 227,78
NADRA BANK
OSCHADBANK
3 236,83
OTP BANK
2 793,93
ALFA-BANK
2 317,76
TAS-KOMMERZBANK
1 231,07
VTB BANK
1 159,23
VAB BANK
1 099,30
3 209,17
*millions USD
RSM International Conference, Singapore 2007
CURRENT CLIENTELE
Today the amongst the clients of our company there are
Ukrainian representatives of the following international
banking groups, also banks and companies with 100%
foreign capital:
RSM International Conference, Singapore 2007
INTERNATIONALLY REPRESENTED CLIENTS
BANKS
COMPANIES
CITIGROUP (USA)
LACTALYS (France)
CRÈDIT AGRICOLE (France)
GRAVE (Austria)
RAIFFEISEN GROUP (Austria)
ALGOL CHEMICALS (Finland)
OTP BANK (Hungary)
WIESNER HAGER (Czech Republic)
SWEDBANK (Sweden)
PZU (Poland)
VTB BANK (Russia)
HARDEX (Poland)
PROCREDIT BANK (International)
ALFA-CAPITAL (Alfa group - Russia)
CREDIT EUROPE BANK (Netherlands)
STARSOFTLABS (USA)
INTERNATIONAL MORTGAGE BANK (USA)
WEB-INVEST GROUP (Russia)
BANK TURANALEM (Kazakhstan)
RSM International Conference, Singapore 2007
SERVICES
•
•
•
•
•
•
Audit
Due Diligence
Corporate Finance
Accounting accompanying services
Accounting and Tax Consulting
Internal Audit
RSM International Conference, Singapore 2007
AUDIT
• Audit of financial statement according to the Audit and Ethics Standards of
the International Federation of Accountants(International Audit Standards)
are used as are National Audit Standards;
• Audit of financial statements are prepared in accordance with International
Accounting Standards (IAS, GAAP) as per the requirements of the
International Audit Standards (Audit and Ethics Standards of IFA);
• Audit of tax reporting;
• Expert analysis of accounting data linking their validity to current
legislation;
• Complex audit of the economic and financial activities of enterprises aimed
to create an optimum system of management accounting;
RSM International Conference, Singapore 2007
DUE DILIGENCE
• Adaptation of accounting financial statements to
international norms in accounting (IAS, GAAP);
• Disclosure of debts, financial liabilities and matters relating
to property, etc.
RSM International Conference, Singapore 2007
CORPORATE FINANCE
•
•
•
•
Evaluation of a client’s assets and business;
Financial analysis of a customer-enterprise’s current activities;
Enterprise restructuring and reorganizing of its activities;
Structuring and advising on the development of business plans,
issuance of recommendations on the strategy for dynamic
development of effective economic activities;
• Consulting and legal support for business aimed at attracting
investment , and consulting on critical matters prior to the
investment.
RSM International Conference, Singapore 2007
ACCOUNTING ACCOMPANYING SERVICES
• Extensive review of client accounting execution using formal
accountancy methodology;
• Preparation of accounting policy, working with charts of accounts
and documents turnover system;
• Providing expertise on documents and the preparation of analytic
references and reports on accounting related matters;
• Methodical and legal support of solutions in the accounting field;
• Development of methods for the consolidation of balance sheet and
another internal reports for enterprises that have subsidiaries or
structural departments with independent balance sheets;
• Preparation of tax declarations for foreign representative offices,
foreign and Ukrainian juridical bodies and individuals.
RSM International Conference, Singapore 2007
ACCOUNTING AND TAX CONSULTING
• Providing consulting expertise on matters of current
practice and normative acts in the area of Ukraine tax
legislation;
• Tax planning for customer enterprises and the
development of proposals on tax payment optimization;
• Assistance in tax declaration preparing.
RSM International Conference, Singapore 2007
INTERNAL AUDIT
• Introduction of appropriate internal audit systems which
take into consideration the requirements of international
standards and Ukrainian legislation;
• Consulting regarding the implementation of internal audit
systems to counter particular problems that exist or may
arise under a client’s current internal audit system.
RSM International Conference, Singapore 2007
STAFF AND INCOME GROWTH SINCE 2000
RSM International Conference, Singapore 2007
QUALIFIED STAFF
A particularly strong feature of APiK’ personnel recruitment policy is the ongoing
development and retention of a reliable team of specialists, including experienced
professional auditors, taxation specialists, accounting experts, programmers in
methodology, financial analysts and others.
Now APiK has 47 staff. Including:
• 4 partners
• 34 professionals (10 – Certified specialists)
• 9 administrative staff
RSM International Conference, Singapore 2007
CONTACTS
Audit Company "APiK“
Address: 37/19 Donetska Str.,
Kiev 03151 Ukraine
Tel: +38 (044) 244-76-62
+38 (044) 501-59-34
Tel./Fax: +38 (044) 501-59-34
Site: WWW.APIK.COM.UA
RSM International Conference, Singapore 2007