Last week, Serhii Balchenko, Director of BDO, and Olexander Nikolaenko, Key Audit Partner, participated in the VI International Corporate Directors Forum: Development Perspectives and New Opportunities for Corporate Governance, held in Kyiv. The Forum brought together key players in the corporate governance.
The main topics of the VI International Corporate Directors Forum encompass a broad spectrum of contemporary trends and challenges. The discussions aimed at anti-corruption measures as a key to the successful reconstruction of Ukraine’s economy, the effective functioning of Supervisory Boards of state-owned enterprises, and the analysis of case studies from successful companies. Special attention was given to the current issues surrounding the development of the corporate director profession.
According to representatives of BDO in Ukraine, the following insights are considered the most intriguing:
- Current trends in corporate governance: Forum participants discussed contemporary and future trends in corporate governance, new approaches to strategic planning, interaction with shareholders, ethical management, and other key aspects.
- Dynamic panel discussions: Forum participants had the opportunity to discuss various aspects of corporate governance during dynamic panel discussions and exchange thoughts on the challenges and opportunities faced by modern companies.
- Success stories of Ukrainian companies: Discussion of specific success cases of entities that achieved growth even in challenging conditions, during war times. Participants analyzed the strategies that enabled these companies to attain sustainable development and maintain economic activity.
Serhii Balchenko, Director of BDO, shared his impressions of participating in this landmark event.
“One of the key points that was paid special attention to was the role of Supervisory Boards in times of war. The effectiveness of their work in companies, even those that are not large but are actively developing, such as the Group Aurora, where a store opens every 15 minutes, is impressive,” said S. Balchenko.
The Forum brought together leaders of key state enterprises who shared their management experience in the face of challenges confronting the country and specific industries. At the forefront were the speed of decision-making, creative thinking, and the willingness to take risks to achieve strategic goals.
Equally important is the news from the Head of the National Bank, Andrii Pyshnyi, regarding the relaxation of currency controls for the population. Now, everyone can freely open online currency accounts and purchase currency, albeit with certain monthly limitations that vary among different banks. Permits for the repayment of loans obtained by Ukrainian entities abroad were also announced.
Discussions on combating corruption reflected the view that Ukraine is doing more than necessary, including criminal liability for errors in declarations and the active work of the National Anti-Corruption Bureau, which is seen as surpassing criticism.
The discussion on adopting European rules and standards highlighted the importance of their swift acceptance to bring Ukraine closer to EU accession, while also acknowledging their realism in relation to the transitional period needed to overcome the challenges of the war.
Even during an air alarm, the successful organization of this unique Forum was ensured, becoming an ideal platform for the exchange of experiences and ideas among representatives from various companies and experts in the field of corporate governance. It facilitated the development of effective management strategies in the context of the modern business environment.
“This event has become an important platform for establishing new contacts, exchanging experiences, and deepening the understanding of the latest practices in the field of corporate governance,” noted Olexander Nikolaenko, Key Audit Partner at BDO.
Our team of BDO in Ukraine is always ready for collaboration and knowledge exchange to contribute to the successful development of businesses in today’s world. We are ready to be your reliable partner on the path to new achievements! If you have any questions or need consultation, write to us and we are always ready to assist.
