The voice of the CEOs is heard!

03 september, 2021

On September 2, 2021 the Ukrainian Network of Integrity and Compliance has completed a strategic meeting "Compliance as an advantage of responsible business" of private and state-owned enterprises leaders.

The effective operation of compliance systems in any company depends on owners’ and top-managers’ understanding and awareness of the key integrity benefits and further promotion of business integrity culture through their personal example.

At the same time, compliance is a civilized choice for Ukrainian SOEs which direction to go: further development with other progressive countries, or stay in the previous paradigm.

The event was opened by the EBRD Managing Director, Eastern Europe and the Caucasus Matteo Patrone, First Deputy Minister for Economic of Ukraine Volodymyr Hryniuk, and Head of the UNIC Secretariat Antonina Prudko. The moderator of the event was –ělena Makarenko, Director, Head of Forensic Group at KPMG Ukraine, member of the UNIC Executive Committee

We are thankful to the speakers for a lively informative conversation and we appreciate everyone present for active networking.

Here are speakers’ key points:

Volodymyr Hryniuk, First Deputy Minister for Economic of Ukraine: "Ukrainian companies are actively adopting the best modern business practices. One of them is the introduction of compliance systems. This is especially relevant for state-owned companies as a driving force for overcoming corruption. I hope that our companies will introduce such useful experience on the way to building a transparent and decent business."

Denis Kudin, First Deputy Chairman of the State Property Fund of Ukraine, Chairman of the Supervisory Board of PJSC “Centrenergo”: "When talking about corporate governance its key component is, of course, compliance, apart from formal institutions and the division between functions of the owner and the functions of the manager."

Hans Christiansen, Acting Deputy Head of the OECD’s Corporate Governance and Corporate Finance Division: “Why is compliance implementation important? It is important because it solves the problem of corruption and integrity. This is not Ukraine’s specifics, it is a particular problem with corruption worldwide."

Sevki Acuner, Head of the Supervisory Boards of NEC “Ukrenergo” and JSC “Ukrzaliznytsia”: "The introduction of compliance is a fundamental step towards transparency, accountability, and corporate governance."

Tymofiy Mylovanov, Head of the Supervisory Boards of Ukroboronservice State Enterprise: “Compliance is a lot about changing culture. And here it is important that all change agents and stakeholders clearly understand why this is necessary."

Tetyana Korotka, Deputy Business Ombudsman in Ukraine, Member of the UNIC Executive Committee: “It is important to develop the concept of responsibility and honesty in Ukraine as a whole: the ethics of interaction both at home and at work. At the same time, the leader must become a role model and a driver of change in the company, so that compliance really works. "

Yevhen Shevchenko, CEO, Carlsberg Ukraine: “Compliance standards do not depend on the form of the company ownership This is a universal approach for honest, responsible business, and establishing transparent relationships with partners, employees, contractors, and the public."

Artem Shevalev, Deputy Head of the Supervisory Board of JSB “UKRHAZBANK” and JSC CB “PRIVATBANK”: “Just having a compliance officer is not an automatic guarantee of improving integrity in the company. For the formation of a compliance culture within the company, it is important that there is a common conceptual, philosophical decision of the shareholder and other key stakeholders to play by the rules.’

Maksym Yurkov , Member of the Board of NEC “Ukrenergo”: “We introduce compliance as a part of the corporate culture, and not only the rules, procedures and their implementation, but also a certain mindset should be introduced in the company. This is the transformation of corporate culture in Ukraine from the Soviet legacy of state-owned enterprises to the best world practices."

Olyana Gogdiyenko, Chairperson of the Supervisory Board of JSV “Ukreksimbank”: "In order for compliance to be an effective and useful process in the company, everyone needs to understand why it is necessary including the owner, the supervisory board and the management."