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September 2011

SH+C VISITS AGN PARTNER FIRM IN UKRAINE

Richard Hempe with the CEO Volodymyr Muravyov and other colleagues of the Ukrain AGN partner firm Global Consulting in Kharkov.

It is a special intention of the AGN Membership Development Committee to improve the contacts between AGN and the member firms by direct contacts at the offices of the member firms. One of these visits in 2011 was performed by Richard Hempe of the German SH+C group, who visited the AGN partner firm Global Consulting in Kharkov/Ukraine.

Global Consulting has its head office in Kharkov and two other offices in Kiev, the capitol of Ukraine, and in Ivano-Frankovsk, in the west of Ukraine. So far they are represented in all important areas of Ukraine. Ukraine is 603.700 square km large and has 46 million inhabitants.

The colleagues from Global Consulting welcomed Richard Hempe at the Kharkov airport and tried to give him a wide impression of the country in addition to the contents of the visit.

In Ukraine the application of IFRS is mandatory for all companies which are subject to a mandatory audit. Consequently the colleagues from Global Consulting have a clear and good understanding of international accounting and auditing. They also know these requirements from their work with subsidiaries of foreign companies especially from Western Europe.

Main items of the visit where the economic and legislative situation in Ukraine, the ISA-based audit approach, the tax situation, the market structure of audit in Ukraine and the possibilities and chances of AGN for winning new clients from outside of Ukraine.

As a first result can be stated, that the direct contact between AGN representatives and the partners and managers of the firm is a very important aspect for the understanding of the expectations and the needs of the work within AGN. Ukraine as a direct neighbour country of Hungary, Slovakia and Poland is quite closed to Central Europe and maybe an interesting area with regard to his moderate wage and salary level.

The colleagues from Global Consulting are very cooperative and will provide interested investors with additional information either directly or by their website in English: www.gc.ua.

There is also information in English available about the firm of Richard Hempe, the SH+C group in Germany: www.shc.de.

Author contact details:

SH+C GROUP

Linprunstrasse 49,
80335 Munich,
Germany

Tel: (+49 89) 54 70 90-0
Fax: (+49 89) 54 70 90-299
Web: www.shc.de

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