KPMG operates as a global network of independent member firms offering audit, tax and advisory services; working closely with clients, helping them to mitigate risks and grasp opportunities.
Member firms' clients include business corporations, governments and public sector agencies and not-for-profit organizations. They look to KPMG for a consistent standard of service based on high order professional capabilities, industry insight and local knowledge.
KPMG member firms can be found in 155 countries. Collectively they employ more than 162,000 people across a range of disciplines.
Sustaining and enhancing the quality of this professional workforce is KPMG's primary objective. Wherever we operate we want our firms to be no less than the professional employers of choice.
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Financial statement audits give assurance over information used by investors and the capital markets – a responsibility to the public interest KPMG Audit professionals take very seriously, applying powerful D&A routines to create better audit evidence and gain deeper insights, and exploring the role auditors can and should play by engaging stakeholders to better understand their views through KPMG’s ‘Value of Audit’ forum. KPMG professionals – innovating to better serve the capital markets and society as a whole.
An independent audit is the foundation for decision-making in the capital markets. We are committed to providing a constructive and challenging audit. Marketplace feedback confirms that our audit opinion is robust.
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KPMG audit methodology is designed to focus the audit on the risks that might have material impact on the financial statements. It is designed to exceed national and international standards and all our professionals throughout our member firms around the world are guided by the same approach to methodology, processes and documentation. All audit staff undergo regular training to help ensure their knowledge is up-to-date.
The high quality of communication is a particular feature of KPMG's audit process. Underpinning our audit approach is a commitment to no surprises, with early advice on any potential issues. The amount of senior time we spend on site and the frequent and interactive exchange of views builds a stronger working relationship, brings fresh perspectives and the early identification to emerging issues.
KPMG is confident in the technical abilities of our lead partners, who have the extensive experience and authority to make accounting decisions that commit the firm. This empowerment of the partners, the collegiate nature of the firm and regular consultation with our clients means that our response to accounting issues that arise during the audit is prompt, decisive and consistent.
Another strength of our audit approach is the use of up-to-date tools and technologies to enable and streamline audit testing.
KPMG’s proprietary computer-assisted audit techniques and KPMG's Auditing/Accounting Lexicon (ALex) were designed to help teams focus on the issues that impact on audit judgments and improve the effectiveness and efficiency of the audit.
KPMG globally deploys secure web based tool designed to provide the benefit of global consistency through the application of standardised audit programmes, fast and straightforward communication and a single source of reference for all group audit reporting and other related material.
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KPMG is at the forefront of an evolving tax landscape
As a leading tax network, we believe that we – as individual tax professionals and as member firms – have a duty to engage in the discussion and debate surrounding Tax Transparency and Responsibility. As the tax strategies of multinationals and domestic companies continue to be examined by both tax authorities and the public alike, we work with our clients to develop tax strategies that are fit for purpose in the tax system of tomorrow.
Working with clients to define the tax department of tomorrow. To keep pace with the reporting changes, multinational corporations will need to evaluate their in-house resources to determine if they will be able to manage additional requirements and responsibilities. They will also need to assess their systems to ensure that they can meet new requirements for multijurisdictional reporting.
KPMG International has a comprehensive, robust and publicly available Global Code of Conduct setting the standards of ethical conduct for everyone in our KPMG member firm network. Tax professionals are also bound by our Principles for a Responsible Tax Practice, which set out additional fundamental ethical principles and behaviours.
In today’s complex business environment, organizations need more than just good lawyers. They need business savvy legal advisors. At KPMG, we understand the value of high quality legal counsel in complicated times. That is why KPMG firms focus on bringing together multi-disciplinary teams with deep local and international experience to tackle clients’ most challenging problems. As part of the KPMG network of independent member firms, our professionals work with subject matter experts in almost every major business center and in virtually every industry to deliver tailored and insightful legal advice to each member firm client.
This means that member firm clients are used to receiving insight, experience and advice – among the best in the market – no matter whether their matter is local, regional or international. And with access to some of the world’s leading subject matter experts on key issues such as regulation, audit, tax and international transactions, KPMG teams of legal professionals consistently bring a holistic and integrated approach to their projects.
Ukraine has a complex and constantly changing legal system. The practical application of Ukrainian laws depends to a large extent on the attitudes and practices of Ukrainian government bodies and agencies, as well as court practices. To avoid inadvertent or undesirable consequences on the general conduct of business or specific transactions as well as civil, administrative and criminal liabilities, businesses and investors are strongly advised to seek professional legal assistance.
Being a part of an international network of firms sharing knowledge, processes and information, KPMG Ukraine provides legal services tailored to individual needs and expectations of local and international clients. Our legal services span all business activities and industries including energy, automotive, financial services, construction, transportation, pharmaceuticals and consumer markets.
HOW COULD KPMG HELP?
We advise our clients on various issues of corporate, commercial, employment, immigration, currency and intellectual property law. Our understanding of background and industries in which our clients operate, as well as solid experience and working relations with other business units help us provide the clients with complex and value added solutions to their legal matters.
- Corporate & Business Restructuring
- Corporate Compliance & Investigations
- Antitrust & Competition
- Mergers & Acquisitions
- Litigation and Arbitration
- Intellectual Property
- German Desk: Ukraine and the CIS
- Energy & Resources
- Retail & Consumer
WHY CHOOSE KPMG?
We strive to keep abreast of the changing legal environment so we can provide up to date advice to our clients. KPMG International's network of firms helps meet multinational client needs and address their legal issues. We work with other KPMG Tax, Customs and Business Advisory units to make it convenient for our clients. KPMG Ukraine also acts as an integral part of the German Desk (Russia, the CIS) and, thus, provides legal solutions specifically for clients from German-speaking countries taking into account the specifics of the Ukrainian market.
Legal Services may not be offered to SEC registrant audit clients of KPMG or where otherwise prohibited by law.
KPMG’s Global Transfer Pricing Services (GTPS) practice helps companies develop and implement economically supportable transfer prices, document policies and outcomes and respond to tax authority challenges.
On 15 July 2015, the Law “On the Amendments to the Tax Code of Ukraine Regarding Transfer Pricing Improvements” № 609-VIII (hereinafter – Law 609) was passed by the Parliament of Ukraine. Please find below the key information regarding changes to the transfer pricing rules and their impact on the Ukrainian business. Discuss the Law online.
We help companies manage their transfer pricing risks by providing a range of consulting services, such as:
preparing transfer pricing documentation files;
preparing Reports on controlled transactions;
developing transfer pricing policies;
negotiating on Advance Pricing Agreements between taxpayers and the Ukrainian tax authorities.
What is the revised scope of controlled transactions?
The new transfer pricing rules slightly amend the scope of controlled transactions previously defined by the Transfer Pricing Law. As of now, the following business transactions carried out by Ukrainian taxpayers are deemed controlled:
transactions with non-resident related parties;
international transactions on sale of goods through non-resident agents;
transactions with non-residents (both related and unrelated parties) registered in a jurisdiction listed by the Cabinet of Ministers of Ukraine, i.a.:
- state (territory) where the income tax rate is lower than in Ukraine by 5 and more percentage points;
- state which does not publicly disclose information on legal entity ownership;
- state which is not a party to international agreements with Ukraine containing provision on information exchange.
Such transactions are deemed controlled if both of the following conditions are satisfied:
annual income of a taxpayer from any activities, defined in accordance with the accounting standards, exceeds UAH 50 million (net of indirect taxes) for the fiscal (reporting) year;
volume of such transactions of the taxpayer with each counterparty, as defined under the accounting standards, exceeds UAH 5 million (net of indirect taxes) for the fiscal (reporting) year.
What actions should be taken by taxpayers?
Ukrainian taxpayers engaged in controlled transactions starting from 1 September 2013 are required to:
prepare and file a Report on controlled transactions before May 1st of the year, following the tax (reporting) year;
prepare and keep transfer pricing documentation with regard to specific transactions and submit it at request of the Ukrainian tax authorities.
What are the consequences of non-compliance?
A taxpayer’s failure to file a Report on controlled transactions by May 1st will result in a fine of 300 minimal wages (365,400 UAH in 2015);
An undeclared controlled transaction in a Report on controlled transactions will cause a fine of 1% of the controlled transaction’s value (but not more than 300 minimal wages for all undeclared transactions);
Failure to submit a transfer pricing documentation will cause a fine of 3% of a controlled transaction’s value (but not more than 200 minimal wages for all controlled transactions).
How can KPMG help you stay one step ahead in transfer pricing?
When analyzing controlled transactions, KPMG specialists use a complex approach to transfer pricing issues, taking into account provisions of the current legislation, anticipated amendments, judicial enforcement practices and international principles of transfer pricing. This approach helps our clients ensure compliance and add value to their businesses.
Our specialists offer their expertise in:
elaboration of intra-group transfer pricing policies;
preparation of transfer pricing documentation;
assessment and mitigation of transfer pricing risks;
maximization of management and administrative costs for accounting purposes and intra-group profit redistribution;
conducting benchmarking studies to define the arm’s length level of prices/profitabiliy;
negotiating with the tax authorities on the signing of Advanced Pricing Agreements.
KPMG professionals help clients structure intra-group transactions in Ukraine and abroad, analyze tax risks related to the application of transfer prices and substantiate intra-group prices from a tax perspective.
Our transfer pricing professionals work closely with other KPMG specialists in the fields of corporate tax, customs regulations, business advisory and legal services.
KPMG professionals are able to leverage KPMG's global transfer pricing experience, as they work together with their colleagues from KPMG Global Transfer Pricing Practice.
KPMG Advisory professionals work with you to cut through the complexity of today’s rapidly changing marketplace. We leverage the knowledge and skills across our global network of firms to develop practical recommendations designed to help you work smarter, grow faster and compete stronger.
We are trusted advisors to the world’s organizations. They choose us because we are known for our talented people, technical expertise, deep industry insights and our ability to get the job done.
We help businesses to become more efficient and provide support as they adapt to demanding environments. KPMG supports businesses throughout their lifecycle as they restructure and expand, whether organically or by acquisition.