Risk Advisory & Forensic
Helping businesses manage risks,
strengthen internal controls, and prevent fraud
Unlike an external audit, regulated by the Law of Ukraine On Audit of Financial Statements and Auditing Activities No. 2258 dated 21.12.2017, internal audit is not regulated by law. The scope and purpose of internal audits are broad and depend on the size, structure, and needs of the company’s management.
Typically, the functions of an internal auditor include control over the functioning and organisation of accounting and internal control systems. Internal audit specialists recommend how to improve these systems, examine financial and operational information, review the use of funds, and monitor compliance with legislation and internal policies.
The Institute of Internal Auditors certifies internal auditors, provides training and issues the Certification of Internal Auditors (CIA) mark, the global standard for assessing the competence and professionalism of internal auditors.
Successful business growth is impossible without effective risk management, a reliable internal control system, and timely identification of potential irregularities. Amid increasing regulatory requirements and growing cyber threats, companies must regularly assess risks, internal processes, and the effectiveness of corporate governance.
Kreston Ukraine provides comprehensive services in risk management, internal audit, cybersecurity, and forensic investigations. We help companies identify risks in a timely manner, evaluate the effectiveness of internal controls, enhance corporate governance, and ensure compliance with regulatory requirements and international standards.
Our services are valuable for:
International groups of companies;
Manufacturing enterprises;
Trading and distribution companies;
State-owned and municipal enterprises;
Companies undergoing digital transformation;
Organizations seeking to strengthen their internal control and risk management systems.
WHEN THESE SERVICES ARE MANDATORY
Certain Risk Advisory & Forensic services may be required by legislation and regulatory authorities.
For banks
The National Bank of Ukraine requires banks to maintain effective internal control, risk management, and internal audit systems.
For insurance and financial companies
Регуляторні вимоги передбачають функціонування внутрішнього аудиту та періодичну зовнішню оцінку його діяльності відповідно до міжнародних стандартів.
For companies operating critical IT infrastructure
There is a growing need for assessments of IT risks, cybersecurity, and information system controls.
For international groups of companies
Internal audit and risk management systems are often required under group governance frameworks and compliance policies.
Risks and consequences of inadequate controls
Weaknesses in corporate governance and internal control systems may result in:
- Financial losses caused by fraud or errors;
- Leakage of confidential information;
- Cyber incidents and disruption of business operations;
- Regulatory sanctions and penalties;
- Corporate governance deficiencies;
- Loss of trust from investors, customers, and business partners;
- Reputational damage;
- Inefficient use of company resources.
Timely assessment of risks and internal controls helps mitigate these threats and supports sustainable business growth.
Our Experience
Kreston Ukraine professionals have extensive experience delivering projects for banking institutions, insurance companies, financial institutions, manufacturing companies, agricultural businesses, energy companies, and international groups of companies.
We help clients assess the effectiveness of internal audit functions, improve internal control systems, strengthen cybersecurity frameworks, and conduct independent forensic investigations.
Kreston Ukraine expertise
Kreston Ukraine is a member of Kreston Global, an international network of professional audit and advisory firms operating in more than 100 countries worldwide.
Our specialists have practical experience in:
- Internal audit;
- Risk management;
- Corporate governance;
- Cybersecurity;
- Forensic investigations;
- Compliance.
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PRACTICE LEADERS
TRUSTED BY THE BEST
Permanent communication with representatives of UKRPOSHTA allowed the company's consultants to find the optimal solution for the implementation of the agreed project and check the presence of transfer pricing risks. Considering the positive experience of cooperation, we recommend Kreston Ukraine as a reliable and competent partner in the field of transfer pricing.
UKRPOSHTA
The results of cooperation allow us to conclude that Kreston Ukraine experts are true professionals in their field. We are satisfied with the result and are ready to expand our partnership in the future. We recommend Kreston Ukraine as a reliable consultant and experienced transfer pricing expert.
SCHROEDER UKRAINE
Pharmastor LLC has been cooperating with Kreston Ukraine since 2017 and has no doubts about the high qualifications and competence of the specialists in this company. Through many years of cooperation, we have become convinced of the integrity, objectivity and professionalism of Kreston Ukraine employees. In view of many years of positive experience of cooperation, Pharmastor confidently recommends Kreston Ukraine as a reliable, competent and highly qualified partner in the field of transfer pricing.
PHARMASTOR
The extremely attentive attitude of Kreston Ukraine specialists to the needs of the client, the ability to quickly navigate and find solutions to problems should be noted, as well as excellent knowledge of tax legislation. The internal and external communication of the team is also commendable. We are completely satisfied with the quality and efficiency of company’s work and recommend Kreston Ukraine to resolve tax issues and provide transfer pricing services.
FC "DYNAMO KYIV"
The quality of services provided to us by Kreston Ukraine team meets our high expectations from working with a company that has a reputable international network. The experts helped us to find a convincing justification for our arm's-length operations and carefully prepared all the necessary documentation stipulated by the terms of the contract. The team of experts is distinguished by deep competence and understanding of the specific features of the banking sector. We are satisfied with our cooperation with Kreston Ukraine and confidently recommend the company to everyone who needs help with transfer pricing issues.
BANK FOR INVESTMENTS AND SAVINGS
Kreston Ukraine specialists provided our company with transfer pricing services. In the course of the work, the company's specialists prepared recommendations that made it possible to significantly improve the quality of our transfer pricing documentation. Since cooperation with Kreston Ukraine has fully justified itself, Budpostach confidently recommends the experts of this company to resolve issues and consultations on transfer pricing.
BUDPOSTACH
During the period of cooperation, the employees of the company have established themselves as specialists who fulfill their obligations at a high quality level and strictly within the terms established by the contract. We note the efficient work and promptness of tasks, attentive attitude to the needs of the client and deep knowledge of the industry.
STAR MEDIA
We are satisfied with our cooperation with Kreston Ukraine and recommend the company as a reliable business partner. The team carried out high-quality work and data analysis, focusing on the main transfer pricing rule - the “arm's length” principle. All information was provided within the terms established by the contract.
ROSHEN
In the course of work, we were convinced of the high qualifications of Kreston Ukraine employees. The specialists quickly responded to the questions we had during the project implementation. The company has extensive experience not only in the field of transfer pricing, but also in the taxation of agricultural enterprises in Ukraine.
MAS SIDS UKRAINE
The services provided by Kreston Ukraine allowed us to fulfill our obligations under Art. 39 and Art. 140.5 of the Tax Code of Ukraine. Our experience of cooperation was positive; therefore, we confidently recommend Kreston Ukraine as a competent expert in the field of transfer pricing.
UNIVERSAL FISH COMPANY
Specialists have demonstrated the ability to carefully and timely perform all necessary procedures and adhere to the conditions specified in the contract. Attention and flawless communication between the team and the client deserve recognition. The company fulfilled all contractual obligations in full.
MONOMAKH
Risk Advisory is a range of services focused on risk assessment, internal controls, corporate governance, and improving the efficiency of business processes.
A risk assessment is particularly valuable during business expansion, digital transformation, entry into new markets, preparation for regulatory inspections, or the implementation of new business processes.
Forensic services involve the independent examination of suspected fraud, corruption, conflicts of interest, asset misappropriation, and other financial misconduct.
For many banks, insurance companies, and financial institutions, such assessments are required by the International Standards for the Professional Practice of Internal Auditing and regulatory requirements.
An IT audit helps assess the effectiveness of IT controls, the security of information systems, and an organization’s preparedness for cybersecurity threats.
Outsourcing involves transferring the entire internal audit function to external specialists, while co-sourcing combines the efforts of the internal audit team and external advisors.
An effective risk management system enables organizations to identify threats in a timely manner, reduce potential losses, improve corporate governance, and enhance investment attractiveness.
Need to assess risks or strengthen your internal control system?
The specialists at Kreston Ukraine can help you evaluate the current state of your risk management framework, identify vulnerabilities, and develop practical solutions to protect your business.
Contact us for a consultation.