PwC UKRAINE JOINS U.S.-UKRAINE BUSINESS COUNCIL (USUBC)
PwC is one of the world's largest professional services firms in assurance, consulting and tax advisory
U.S.-Ukraine Business Council (USUBC),
Washington, D.C., Thursday, May 8, 2014
WASHINGTON, D.C. - PwC Ukraine, a member of the PwC network of firms, has been approved for membership in the U.S.-Ukraine Business Council (USUBC), www.USUBC.org., the USUBC executive committee announced today. The announcement was made on behalf of the entire USUBC membership of 200 companies and organizations who have business operations, investments or other development programs in Ukraine.
PwC is a multinational network of firms with 180,000 professional, united by a common goal — building relationships that create value for businesses. Headquartered in London, United Kingdom, PwC is one of the world's largest professional services firms measured by 2012 revenues. Having offices in 776 cities across 157 countries, in FY 2012 PwC had total revenues of $31.5 billion, of which $14.9 billion was generated by its Assurance practice, $7.9 billion by its Tax practice and $8.7 billion by its Advisory practice.
The firm was created in 1998 when Coopers & Lybrand merged with Price Waterhouse. Each of these firms had histories dating back to the 19th century. PwC has been present on the Ukrainian market since 1993.
The Ukrainian firm is headquartered in Kyiv with three full-service offices in Donetsk, Lviv and Dnipropetrovsk. Clients from Ukraine benefit from working with both Ukrainian experts and expatriate professionals that bring knowledge and experience from PwC firms worldwide.
THREE MAIN TYPES OF SERVICES WORLDWIDE AND IN UKRAINE
PricewaterhouseCoopers (PwC) provides the following three main types of services worldwide and in Ukraine:
(1) Assurance – financial statement audit and IFRS transition, financial accounting and corporate reporting improvement, Systems & process assurance
(2) Tax Advisory – international tax planning and compliance with local tax laws, customs, human resource consulting, legal services and transfer pricing
(3) Advisory – mainly consulting activities which cover strategy, performance improvement, transaction services, business recovery services, corporate finance, business valuation, sustainability and crisis management in a range of specialist areas such as accountancy and actuarial advisory
PwC's service lines face the market in each country by broad industry specializations. In Ukraine they are: agribusiness, banking, government and public sector, metals and mining, pharmaceuticals, retail and consumer, telecommunications.
PwC has developed several broader consulting initiatives in the Enterprise Risk Management (ERM) framework, including a global effort to assist corporations with outsourcing, as well as a global political risk assessment with the political risk advisory firm Eurasia Group.
Advisory services offered by PwC also include two actuarial consultancy departments; Actuarial and Insurance Management Solutions (AIMS) and a sub branch of "Human Resource Services" (HRS).
Actuarial covers mainly four areas: (1) pensions, (2) life insurance, (3) non-life insurance, and (4) investments. AIMS deals with life and non-life insurance and investments. HRS deals mainly with pensions.
PwC serves the US Federal Government through their Public Sector practice. PwC has over 2,000 professionals based in the Washington Metro Corridor.
CORPORATE RESPONSIBILITY (CR)
PwC plays a vital role in healthy and functioning capital markets through building trust, transparency, and consistency in business practices. In supporting and advising some of the world’s most important organizations, it provides value that extends far beyond its client base and into the broader marketplace.
A key element of corporate overall business strategy, corporate responsibility builds on PwC’s long-standing values and ethical practices. Doing business responsibly, while engaging its stakeholders and communities, is critical to the sustainability of its business, people, and communities. CR engages people, helps create efficiencies in all processes, and serves as a catalyst for growth.
PwC approaches CR through four areas of focus – marketplace, people, community, and environment. Within this framework, the strategy targets three societal issues (or cause areas): youth education, climate change, and social inclusion. These act as guiding principles, directing the actions and serving as a consistent global framework.
Over the years, PwC has offered critical knowledge and expertise to a wide variety of nonprofit organizations on a pro bono basis. PwC’s reputation lies in building lasting relationships with its clients and focusing on delivering value in all they do. The goal of PwC is to continue to build an iconic professional services firm that is always forward looking because of its commitment to be the best.
PwC AND U.S.-UKRAINE BUSINESS COUNCIL (USUBC)
The management of USUBC has been working with Bryan Dishler, Country Managing Partner, PwC Ukraine. Bryan became Managing Partner in Ukraine in July of 2012. Prior to moving to Ukraine Bryan worked for several years with PwC Canada.
USUBC has worked on several projects with Andy Kuzich, Director, Business Development for PwC Ukraine and with Lev Holubec, M&A Advisory, PwC Chicago, USA. Robert Shantz and Ron Barden, Partners in Tax and Legal Services, and other partners have also worked with and attended USUBC meetings.
USUBC is working work with PwC, setting up joint events on business transparency and other vital issues to business representatives, using the experience, expertise and intellectual products of PwC. USUBC is sharing research flash reports among our subscribers and Ukraine Business News readers. USUBC is very pleased to welcome PwC and have the opportunity to support their outstanding work in Ukraine," said Morgan Williams, Director, Government Affairs, Washington office, SigmaBleyzer who serves as President of USUBC.
USUBC membership has grown rapidly during the past seven years. Membership now stands at over 200. In January 2005 membership was eight; two years later it had grown to 22; in January 2009 it reached 100; and in 2013 topped 200. A complete list of USUBC members can be found at: http://www.usubc.org/members.php. For a list of the USUBC board of directors go to: http://www.usubc.org/site/u-s-ukraine-business-council-board-of-directors.