In May 2016, “International Compliance” edition was published. This book is the result of joint efforts of thirty KPMG offices.
The Ukrainian KPMG team has drafted the chapter on the compliance practices and trends on the domestic market. Today, the publication is a unique reference since compliance is quite a new area in the wide range of legal services. The book will be helpful both for students of law and for practicing lawyers.
The chapter prepared by the Ukrainian team offers analyses of the fields of law that should be subject to compliance regulations in Ukraine; information on liability of businesses, management and shareholders for non-compliance with the laws on business activity in Ukraine; and mentions 5 most common mistakes made by foreign investors when addressing compliance issues in Ukraine.
Tetiana Kheruvimova, Senior Associate, and Olga Dubanevych, Associate at KPMG in Ukraine, noted that preparation of such a high-profile publication became the first experience for KPMG team in this area. Ukrainian legislation is sufficiently developed to build a robust compliance system, although creation of such system should go hand in hand to the development of a culture that will encourage the business players to implement relevant compliance programs. Hopefully, the analysis of the development of the national compliance system by KPMG lawyers will be useful not only for our colleagues, but also would be used as a guide to the Ukrainian market by foreign investors.
KPMG is a synergy of teamwork both on global and local levels. Tetiana Kheruvimova expresses gratitude to the teams, led by Oksana Olekhova, Senior Manager at Tax & Legal Department, and Yuriy Katser, Senior Counsel, Acting Head of Legal Services at KPMG in Ukraine, for their active involvement and valuable contribution into the book.