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AUDIT IN BUSINESS ACQUISITION

ASSESSING ALL THE RISKS AND THOROUGHLY EXAMINING YOUR COMPANY
UNDERGOING AN ACQUISITION ON THE TIGHTEST SCHEDULE

Kreston GCG - experience, team, approaches, and ability to provide a top-quality service

AUDIT THAT REDUCES YOUR COSTS
AND LOSSES

A typical audit project can serve as an excellent financial investigation able to invigorate your team while allowing the business to continue as a going concern.

AUDIT FOR FUNDRAISING

RELIABLE TOOL FOR PRODUCTIVE NEGOTIATIONS AND GROWING THE CREDIBILITY FOR INVESTORS AND PARTNERS

Kreston GCG – credibility, international rating, and accreditation

SYSTEMATIC AUDIT -
VALIDATION OF STATEMENTS UNDER IFRS

How do we make an audit project impactful with a high-quality service?

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KRESTON UKRAINE

Kreston GCG is a Ukrainian division of the global network Kreston International, which is one of the world's leading auditing and consulting companies. It takes pride in its team of more than 23,000 dedicated professionals located in 108 countries.

OUR AUDIT AREAS

Audit for systematic validation of statements

Top international rating and accreditation (PCAOB, USAID, EBRD, IFAC, ACCA, RICS)

Audit
for business acquisition

Our approaches to auditing stand out as exceptionally impeccable. No matter is left unattended.

READY TO DISCUSS A PROJECT?

WE WILL BE HAPPY TO ANSWER ALL YOUR QUESTIONS

OUR CASES

Our projects on the audit of financial statements

Стратегия

Ukrainian dairy producer

Objective: Audit for the purpose of obtaining international funding

What was done: One of the largest producers of milk and dairy products in Ukraine ranked Top-5 of production companies with more than 1000 people employed and 6 trademarks implemented a project for obtaining international funding. The Kreston

GCG team provided consultations for production of financial statements pursuant to the International Financial Reporting Standards and conducted an audit.

Audit and financial reports were submitted to international agencies for the purpose of obtaining funding and risk insurance.

Effects achieved:
1. There was an additional financial instrument used – international funding during a procurement of equipment with the risks insured by an export and credit agency (ECA).
2. Obtaining an effective annual interest of up to 5% for 5 years.
3. Production output and net profits increased after modernisation.

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Стратегия

Pharmaceuticals distributor

Objective: Audit for the purpose of obtaining international funding from EBRD

What was done: A distributor of pharmaceuticals ranked Top-5 in Ukraine with a net annual income of more than ₴1 billion implemented a project for obtaining international funding from the European Bank for Reconstruction and Development.

The Kreston GCG team provided consultations on the preparation of consolidated financial statements pursuant to IFRS and conducted an audit.

Effects achieved:
1. EBRD entered the company capital.
2. An investment agreement was concluded with EBRD.
3. A significant increase in the company net income for 2 years.

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Стратегия

National manufacturers and distributors of pharmaceuticals

Objective: Financial statement review based on the audit results of an international pharmaceutical group

What was done: One of the largest manufacturers and distributors of pharmaceuticals and a member of an international pharmaceutical company. The

Company ranks top 10 in the Ukrainian pharma companies by sales volume. Kreston GCG completed a review of financial statements to consolidate and validate them further as part of the international pharma group (presence in 80 countries worldwide).

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Стратегия

Ukrainian road construction operator

Objective: Audit of financial statements for trade financing with ECA

What was done: Largest road construction operator in Ukraine obtained equipment and funding from a German manufacturer for over €100 mn. Trade funding involved an export and credit agency Germes. The client engaged Kreston GCG

to adopt IFRS and run an international audit as per investors’ request.

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Стратегия

Agricultural holding listed at the Warsaw Stock Exchange

Objective: Audit requested by the Warsaw Stock Exchange

What was done: Ukrainian agricultural holding with an income exceeding ₴500 mn. that obtained an IPO at the Warsaw Stock Exchange. As required by the stock exchange, the client runs an annual audit of

consolidated financial statements under IFRS. Kreston GCG was engaged in the audit and organisation of relationships with European representatives.

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Стратегия

Leader in the market of water-purification equipment

Objective: Audit for the purpose of obtaining international funding from EBRD

What was done: One of the largest manufacturers and distributors of water-purification equipment. The company is a recognised leader in the market of water-purification equipment and technologies. It

implemented a project for obtaining international funding from the European Bank for Reconstruction and Development. The Kreston GCG team provided consultations on the preparation of consolidated financial statements pursuant to International Financial Reporting Standards and conducted an audit.

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OUR PROJECTS

OLEG KUZNIETSOV

Oleg Kuznietsov

Partner

Financial Statement Audit
Transition to IFRS
Financial and Tax Due Diligence

OLEG KUZNIETSOV
Olga Chuzhakova

Olga Chuzhakova

Partner

Audit services
Tax audit

WHY CHOOSE US

Kreston GCG has one of the best audit practices in Ukraine.
Our approaches to auditing stand out as exceptionally impeccable.. No matter is left unattended.

RATING AND ACCREDITATION

✓ KRESTON INTERNATIONAL, FORUM OF FIRMS (IFAC)

Being a member of Kreston International, one of the world’s largest international audit networks according to Accountancy Age. The network credibility is evidenced by a high level of acknowledgment from creditors, investors, as well as participation in the Forum of Firms (IFAC).

✓ PCAOB, USAID

We are accredited by the Public Company Accounting Oversight Board (PCAOB) and the U.S. Agency for International Development (USAID) for implementation of audit projects.

✓ EBRD

We are accredited by EBRD and have a successful cooperate with many international financial organisations, including the European Bank for Reconstruction and Development (EBRD), European and Asian export and credit agencies.

✓ IFRS, HBII, GAAP UK/US/ SWISS

Over 15 years of experience in Ukraine in the international audit projects, transformation and consolidation of financial statements (IFRS, HBII, GAAP, GAAP UK/US / SWISS).

✓ ACCA, RICS

Our officers are members of the АССА and RICS, and participate in qualification programmes of these organisations.

OUR TEAM

Our team includes over 150 experts from Ukraine.

The projects are managed by experts with ACCA qualification that also hold the auditor certificates.

Our clients work with the experts with at least 10 years of experience in audit, accounting, and tax accounting.
We build teams with an industry expertise.

Our clients have access to the data on the experience and expertise of each member of our team.

We have a strict control over the project schedule. We meet the deadlines through agreeing upon the plans at the project start and holding control meetings and presentations of interim results

OUR APPROACHES

Audit of financial statements can be initiated by various parties, which provides for a different understanding of the engagement efficiency. Our engagement team creates additional values for the client in addition to meeting the requirements of International Standards on Auditing (ISA).

What we always offer:

  1. The projects are managed by experts with ACCA qualification that also hold the auditor certificates.
  2. Our clients work with the experts with at least 10 years of experience in audit, accounting, and tax accounting.
  3. We build teams with an industry expertise.
    Our clients have access to the data on the experience and expertise of each member of our team.
  4. We have a strict control over the project schedule. We meet the deadlines through agreeing upon the roadmap at the project start and holding control meetings and presentations of interim results.
  5. Our projects aim merely at forming an audit opinion on the reliability of financial statements. We clearly define the criteria for improving the accounting quality, statement preparation, and internal control systems as a whole.
  6. We are highly integrated with other audit firms at Kreston International. We also cooperate with auditors from BIG4 in other countries.
  7. A successful project is possible if communication with the recipients of audit statements is in place. As far as the financial organisations are concerned, we prefer to build an open relationship with a complete understanding of all requirements that investors and creditors set.

OUR EXPERTISE

Our audit practice is one of the best practices in Ukraine. Vast project experience in various industries, a broad client portfolio with annual incomes reaching ₴100 million to ₴15 billion, a well-coordinated team ensures the impacts of our projects.

You can find the references from our clients and our clients themselves in the section "About Us".

KNOWING OUR CLIENT'S BUSINESS

The audit methods used by our company are based on the best practices of Kreston International. In doing so, our approaches are flexible enough to take into account the uniqueness and exceptional nature of our clients' work. We aim to apprehend our client's business in general and focus on the specific internal control matters.

During the audit, Kreston GCG guarantees to ensure that:

    • the team participants understand the industries, organisational structure, and business processes of our client;
    • покрытие аудитом всех ключевых функциональных блоков бизнеса и идентифицированных рисков;
    • the audit covers all functional units and identified risks of the business;
    • the client is clearly informed of objectives and volume of the audit;
    • the client's requests and concerns are taken into account when planning an audit;
    • only the officers with sufficient experience, professional skills, and time to perform the audit engagement efficiently are selected to the audit team;
    • the field audit works have an optimal duration and control over the execution speed of planned procedures is granted;
    • the client's management is promptly informed on the critical issues detected during an audit;
    • the client is informed of the audit results with its findings and deficiencies explained;
    • as the client implements and optimises business processes and control instruments, he/he gets a proper support.

In doing so, the audit procedure is supervised by our partners at all stages to ensure a dynamic response to new conditions and an adequate adjustment of audit approaches.

WORK WITH US

We will help your company to reach a new level of development

AUDIT AND CONSULTING PRACTICE BY KRESTON GCG

7000+

PROJECTS COMPLETED

200+

REGULAR CUSTOMERS

TOP12

OF THE WORLD RANKING

150+

FULL-TIME STAFF
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