Solutions for municipalities

OUR SOLUTIONS FOR MUNICIPALITIES

can help you establsih a rapport with local communities, raise investments, and offer better business development opportunities

We offer a comprehensive approach, international expertise, and seamless record of projects brought to successful completion

OUR SOLUTIONS

Strategies and Development Programs

We will prepare a comprehensive strategy and development program for your city to get access to external funding. As result of our project, you get the following products:

Audit and Financial Investigations (Forensic)

We offer services that cover all areas exposed to fraudulent activities and resultant damages affecting your business both from within and in relations with counterparties.

✓ KRESTON INTERNATIONAL, FORUM OF FIRMS (IFAC)

We are a member of Kreston International, one of the world's largest auditing networks according to Accountancy Age. Its reputation for excellence can be evidenced by a high level of recognition and confidence from creditors, investors, as well as by its participation in the Forum of Firms (IFAC).

✓ EBRD

Kreston GCG has a strong track record of successful cooperation with many financial organizations, such as the European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), the German Development Bank (KFW), the Warsaw Stock Exchange (WSE) and others.

✓ PCAOB, USAID

We are accredited by the Public Company Accounting Oversight Board (PCAOB) and United States Agency for International Development (USAID) to conduct audit projects.

✓ UN GLOBAL COMPACT

Kreston GCG has joined the United Nations Global Compact, which aims to promote social responsibility of business and counteract corruption.

✓ WARSAW STOCK EXCHANGE

Kreston GCG is the official partner of the Warsaw Stock Exchange in Ukraine.

✓ EXPERIENCE

Over 15 years of experience in international auditing (IFRS, UK GAAP, US GAAP, HBII), tax auditing, financial investigations (forensic), comprehensive diagnostics (due diligence), strategic and business planning, business processes management, business valuation for Ukrainian and international clients.

WORK WITH US

We will help your city to push its development beyond limits

OUR CASES

Have a closer look at our projects implemented for self-government authorities and public utility companies

A public transport company in one of the largest Ukrainian cities.

Public transport company in one of the largest Ukrainian cities.

Objective: Raise €8 million from EBRD for a project aimed at making the environmentally friendly public transport more accessible and securing sustainable development of the transport infrastructure.

What was done: We developed an implementation strategy, refined standards on financial and operating data reporting, initiated the practice of annual financial disclosure under IFRS and the practice to summarize the investment programs and results achieved as per the EBRD program.

Read more
One of the Ukrainian leaders in the crops and plant protection market.

One of the Ukrainian leaders in the crops and plant protection market.

Objective: Preparing a development strategy for the nearest 3, 5, 7 years as part of an international grant program from the EU and EBRD.

What was done: We developed a comprehensive development strategy, which included:
Niches and segments for a priority-oriented specialization
Production Integration Plan
Competitive Sales Strategy
Strategy Implementation Scorecard
Internal Environment Optimization Plan (gradual reconciliation with the developed strategic goals of the company)

Read more
State-Owned Enterprise that implements investment projects in geologic exploration across Ukraine.

State-owned enterprise that implements investment projects in geologic exploration across Ukraine.

Objective: Prepare a report on business activities, business units, describe its multi-industry investment projects (both ongoing and scheduled).

What was done: We prepared a Company Profile Report, which enabled our client company to impress international investors and partners with its business data and prospects (mostly, by taking part in international industry conferences), as well as the state authorities and other stakeholders.

Read more
Self-government authorities in one of the largest Ukrainian cities.

Self-government authorities in one of the largest Ukrainian cities.

Objective: Comprehensive examination of multiple public utility companies for the last 3 years.

What was done: Financial investigation revealed cases of office abuse that resulted in over ₴250 million of damage, including:
Overstated value and volume of construction and repair works. Overstated value of services to be purchased. Understated value of premises leased (10–15 times less). Improper supervision over the consumption of fuel, oil and lubricants (FOL), water, and electricity. Inadequate management of liquidity and debt. Inadequate sales of equipment and metal scrap.

Read more
Крестон. Кейс. Пассажирские перевозки

One of the largest public utility companies in the passenger transport market.

Objective: Due to a great number of inspections initiated by regulators, our client decided to be proactive and audit its business by engaging a credible international audit company.

What was done: our audit revealed:
Breaches of the law on public procurement and high-risk transactions in the amount of over ₴1.7 billion
Falsified procurement for ₴0.8 million
Partiality of the tender committee (vested interest in certain participants)
Conclusion of contracts on unfair terms
Excess of powers from party representatives when concluding contracts
Renewal of lease contracts at the prices outdated for more than 10 years
Violation of book-keeping procedures that allowed for abuse of office
Bonus payments unreasonably increased by 30% and more
Timing fraud in machinery repair records
Using pre-owned parts during repair
Fraud with the write-offs of wear parts, fuel, oil, and lubricants.

Read more
Andrey Popov

Andrey Popov

Partner

Strategic Consulting
Integrated Reports
Statutory Audit

Andrey Popov
Sviatoslav Yefremov

Sviatoslav Yefremov

Partner

Strategic Consulting
Financial Investigations

Go up