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PricewaterhouseCoopers Ukraine, ACCA Registered CPD Provider, and ACCA Ukraine, Baltic and Caucasus States held a joint open meeting “Raising capital in international markets” on 14 June, 2010 at Premier Palace Hotel, Kiev, Ukraine.

The event gathered together more than 100 representatives of Ukrainian and international companies from various industries - banking, insurance, healthcare, construction, investment, agriculture and other. Senior managers of such companies as Shell Retail Ukraine, Poltava Petroleum Company, Publicis Groupe Media, SHM Smith Hodgkinson Ukraine, Porsche Ukraine, Energy Standard Group and many others were among the participants.

On behalf of PricewaterhouseCoopers among those who took the floor were:

• Clifford Tompsett, Senior Partner, PwC London Capital Markets Group
• Vladimir Demushkin, Partner, PwC
• Vyacheslav Vlasov, Director Tax and Legal Services, PwC
• Dmitriy Skornyakov, Senior manager Tax and Legal Services, PwC

On behalf of ACCA, Nataliya Vovchuk, Head of ACCA Ukraine, Baltic and Caucasus States welcomed the meeting’s attendees and introduced ACCA representatives:

• Dean Westcott, Vice President, ACCA
• Gustaw Duda, Council member from Poland
• Pauline Hobson, Council member form UK
• Neil Stevenson, Executive Director - Brand, ACCA

Clifford Tompsett, Senior Partner of PricewaterhouseCoopers London Capital Markets Group gave a speech “Current trends and issues: raising capital in international financial markets”. Giving the overview of current trends of raising capital in international markets Mr. Tompsett stressed that debt and equity markets remain difficult with continuing volatility expected in the short term. "London and Warsaw are likely to be equity markets of choice for Ukrainian companies", he said.

According to the most recent ACCA survey of accountants and finance professionals, the economic outlook in Central and Eastern Europe has finally bottomed out in early 2010. Forty-eight per cent of respondents to ACCA research in the region believe that economic conditions are about to improve or are already doing so, while an equal number believe they are deteriorating or stagnating.

Dean Westcott, Vice President of ACCA, during his speech said: “The EU and other countries – especially as borders become less marked in our global economy – need a fluid and liquid capital market. This is of paramount importance to achieve the objective of financing business”.

Dmitry Skornyakov, Senior manager of Tax and Legal Services of PricewaterhouseCoopers Ukraine highlighted the requirements to companies for entering the international capital markets and gave practical examples and advice. He also explained the specifics of the Ukrainian tax system related to this procedure.

Vyacheslav Vlasov, Director of Tax and Legal Services of PricewaterhouseCoopers Ukraine also commented the specifics of entering the international capital markets for Ukrainian companies and answered on some attendees’ questions. 

Event also marked the celebration of PricewaterhouseCoopers Ukraine’s new status - ACCA Registered CPD Provider and at the end of the meeting Nataliya Vovchuk, Head of ACCA Ukraine, Baltic and Caucasus States together with Dean Westcott, Vice President of ACCA presented a certificate to Elena Tokar, Director of Assurance of PricewaterhouseCoopers Ukraine. The certificate confirms PricewaterhouseCoopers Ukraine has met approval criteria set out by ACCA and attending the classroom-based courses offered by PricewaterhouseCoopers Ukraine will be attractive to ACCA Members such as to many others interesting in achieving the learning relevant to their role or career development.

Also it should be noted, that PricewaterhouseCoopers Ukraine became the first and the only official provider of continuing professional development for ACCA members in Ukraine. "Our cooperation with PwC presents one of the best examples of strategic alliances in professional education being built in Ukraine", stressed Nataliya Vovchuk, Head of ACCA Ukraine, Baltic and Caucasus States.

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