Gregoire Dattee, Mazars Ukraine, told about international audit requirements at the International AgriInvest Forum
Mazars Ukraine supported the International Agro-Investment Forum “AgriInvest Forum” which took place in Kiev on October 7, 2014. The forum brought together about 250 participants to discuss new strategies for development of the agricultural business in Ukraine and find ways and mechanisms to attract investment into the industry. Among participants were Ukrainian state officials, owners, CEOs and CFOs of the leading international and local producers and processors of agricultural products, as well as representatives of international institutional investors, financial, consulting and law firms.
The agenda of the Forum included three main sections: the macroeconomic indicators of the Ukrainian economy; new opportunities for Ukrainian agricultural producers; access to finance - financial instruments available in Ukraine.
Gregoire Dattee, Managing Partner at Mazars Ukraine took part in the third section “Access to finance” and delivered a presentation on international audit requirements with a focus on agribusiness and its specifics in Ukraine. In order to get access to finance, especially international, the companies are required to audit their financial statements in compliance with international requirements. However, companies very often refer to this requirement too late or they set incorrect requests for audit that cannot be fulfilled. During his speech Mr. Dattee presented some examples of real and common requests for audit services received by Mazars from Ukrainian companies that prevent them from carrying out an audit in compliance with international requirements. In particular, he highlighted what should be avoided and what should be done to improve when requesting for audit services in order to have an efficient audit, valid for third parties and bringing added value to the company.
Organizer of the AgriInvest Forum was the Ukrainian Agri Council with the support of USAID Agroinvest project and Ukrainian Agri Investment Council. The event was opened by Ruslan Koshulinsky who highlighted two main problems of agricultural development. Igor Shvaika, Minister of Agrarian Policy and Food of Ukraine, noted that this event was hosted for the first time and will be held twice a year in the future. Among other speakers were also Andriy Dykun, Deputy Minister of Agrarian Policy and Food of Ukraine, Anatoly Yurkevych, Executive Director, Milkiland Ukraine, Vitaly Filatov, CEO, Väderstad Ukraine, Simon Cherniavsky, CEO, HarvEast Holding, John Shmorhun, CEO, AgroGeneration Ukraine, Andrew Talama, First Deputy General Director, Galicia-Zahid, Vladimir Osadchuk, Noble Resorces, Taras Lukachuk, Vice President, Mondelez Ukraine, and others.
Gregoire Dattee