Deloitte’s specialists meet Lviv business elite
Issues on IFRS transition, transfer pricing and working capital management were addressed during the one-day seminar
25 October, Lviv – Global professional services firm Deloitte has launched a series of one-day seminars on entrepreneurialism across Ukraine. The first seminar was held yesterday at the Leopolis Hotel in Lviv, arousing great interest in the city’s business circles.
The seminar was aimed at financial and general directors, with the first part of the programme looking at topical issues concerning working capital management, transfer pricing and taxation.
Representing Deloitte among the speakers were Mykhaylo Melnyk and Victor Lukashuk, both Partners, Vladimir Yumashev, Senior Manager, and Maksim Stopnik, Manager.
“Although issues on the rules governing transfer pricing still have to be resolved, business representatives need to start preparing themselves for substantiating prices for “controlled” transactions (i.e., transactions that may be subject to regulation) under the transfer pricing rules. In practical terms, it means that it will be necessary to conduct a thorough analysis of related party transactions in order to minimise the risk of adjusting revenue or expenses for tax purposes and to prepare the necessary documentation: all this requires particular skills,” Vladimir Yumashev said.
The second part of the seminar concentrated on businesses transforming reporting to International Financial Reporting Standards, mainly for the attention of companies’ chief accountants. The practical aspects of transition to IFRS were explained by Andrey Oksenyuk, Senior Manager at Deloitte, along with Taras Kozhushko and Tibor Tompa, both Deloitte Managers.
Around 35 representatives from medium- and large-sized businesses attended the seminar to get insights from professional consultants and to ask any questions they might have had. Event participants praised the event for its high quality, with particular credit given to the relevance of the issues discussed and how well timed such a discussion was considering the current business climate. "The seminar addressed a number of very interesting topics, especially in light of recent legal initiatives, with a prompt delivery of all the relevant materials,” commented Oleg Chernyahovsky, CFO of Concern Khlibprom.
Deloitte will continue its seminars for business representatives throughout the country. The next seminars will be held in Donetsk and Kharkiv. Following registration, admission to the seminars is free. Further information is available on the Deloitte website.