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Accounting and
Tax Advisory Services

Professional Advisory Services in Accounting,
Taxation, and Financial Reporting

Modern businesses operate in an environment of constantly evolving tax legislation and increasing financial reporting requirements. Professional accounting and tax advisory services help companies respond promptly to legislative changes, assess the tax implications of business transactions, minimize risks, and ensure compliance with regulatory requirements.

Kreston Ukraine provides professional advisory services in accounting, taxation, and financial reporting for both Ukrainian and international companies. We help clients correctly apply legislative requirements, assess the tax implications of business transactions, resolve complex accounting issues, and minimize regulatory risks.

Who can benefit from this service

This service is designed for companies facing complex accounting, taxation, or financial reporting issues, as well as for executives, CFOs, and chief accountants who require professional expert support.

In particular, our advisory services may be relevant for:

Companies undergoing tax audits or preparing for them;
Large taxpayers;
Businesses engaged in transactions with non-residents;
Companies dealing with international taxation, Controlled Foreign Companies (CFCs), or transfer pricing;
Enterprises undergoing audits or preparing for audit engagements;
Companies transitioning to IFRS or preparing financial statements in accordance with International Financial Reporting Standards;
Companies with foreign investment;
Diia City and Defence City residents;
Banks, insurance companies, and other financial institutions.

Risks and Penalties

Errors in accounting and tax records, as well as the incorrect application of legislative requirements, may result in:

Additional tax assessments, penalties, and late-payment interest;

Unfavourable outcomes of tax audits;

Misstatements in financial reporting and the need for corrections;

Claims from investors, creditors, auditors, and regulators;

Loss of eligibility for certain tax incentives and special tax regimes;

Litigation with regulatory authorities;

Financial losses and reputational risks for the company.

Obtaining professional advice in a timely manner allows companies to assess risks, establish a well-founded position on disputed matters, and avoid adverse financial consequences.

How the consultation process works

1. Initial request assessment

We review the nature of the issue, determine the scope of information required, and identify the documents necessary for analysis.

2. Analysis of documentation and regulatory framework

Our specialists analyze the provided documents, applicable tax legislation, accounting standards, International Financial Reporting Standards (IFRS), and current practices related to the application of relevant regulations.

3. Preparation of findings and recommendations

Based on the analysis, we develop practical recommendations regarding the accounting treatment of business transactions, tax implications, financial reporting matters, or other issues requiring resolution.

4. Delivery of a written consultation

The client receives a written consultation or professional opinion containing references to applicable legislation, official guidance, and practical recommendations on the implementation of relevant requirements.

5. Discussion of results and ongoing support

Where necessary, we provide additional consultations, answer follow-up questions, and support the practical implementation of our recommendations.

Regulatory and methodological framework

Our consultations are provided in accordance with the requirements of:

The Tax Code of Ukraine;
The Law of Ukraine “On Accounting and Financial Reporting in Ukraine” No. 996-XIV;
National Accounting Standards (NAS);
International Financial Reporting Standards (IFRS);
Individual and General Tax Consultations issued by the tax authorities;
Official guidance issued by the State Tax Service of Ukraine, the Ministry of Finance of Ukraine, and other competent authorities.

Practical experience in accounting, tax, and IFRS advisory

Kreston Ukraine is part of Kreston Global, an international network of professional audit and consulting firms operating in more than 100 countries worldwide.

Kreston Ukraine professionals have extensive practical experience advising clients on:

application of the provisions of the Tax Code of Ukraine;

transition to IFRS and financial statement conversion;

accounting for transactions with non-residents;

transfer pricing and Controlled переходу на МСФЗ (IFRS) Foreign Company (CFC) reporting;

preparation of financial statements in accordance with IFRS and in iXBRL format;

accounting treatment of complex business transactions;

tax implications of business restructuring;

preparation for tax audits and SAF-T UA implementation.

Our clients include manufacturing enterprises, agricultural companies, banks, IT companies, retail chains, and international groups.

Kreston Ukraine specialists also have extensive experience in preparing written consultations and professional opinions on complex accounting, taxation, and financial reporting matters.

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FAQ

What topics are covered by accounting advisory services?

Our advisory services may cover accounting and tax treatment of business transactions, preparation of financial statements, development of accounting policies, application of National Accounting Standards and International Financial Reporting Standards (IFRS), as well as audit and tax inspection readiness.

Can I receive a written opinion?

Yes. Based on our analysis, we can provide a written consultation or professional opinion with references to applicable legislation, official guidance, and practical approaches to their application.

Do you provide IFRS advisory services?

Yes. We advise on the application of IFRS, financial statement conversion and transformation, development of accounting policies, preparation of notes to financial statements, and specific accounting matters.

Do you assist during tax audits?

Yes. We analyze tax risks, provide advice on complex and disputed tax matters, assist in preparing responses to inquiries from regulatory authorities, and support clients throughout tax audits and inspections.

Can I receive advice on transactions with non-residents?

Yes. We provide advisory services on international taxation, transfer pricing, controlled foreign companies (CFCs), withholding tax, application of double taxation treaties, and accounting treatment of transactions with non-residents.

How quickly can I receive a consultation?

The timeframe depends on the complexity of the matter, the volume of documentation involved, and the need for additional analysis. In most cases, an initial consultation can be arranged within one to two business days after receiving the request.

Need advice on accounting, taxation, IFRS, or tax risks?

Contact the specialists at Kreston Ukraine to receive practical recommendations and professional support tailored to your business needs.

Accounting and
Tax Advisory Services

Professional Advisory Services in Accounting,
Taxation, and Financial Reporting

Who can benefit from this service

Risks and Penalties