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Effective communication within the company is critical to a common understanding of policies and procedures, as well as compliance and integrity among employees.

The group's work will study the current systemic problems of the agricultural sector related to unscrupulous practices, prepare joint proposals for solving them according to the compliance principles, and implement such solutions by establishing a productive dialogue with authorities' representatives.

During the event, participants had the opportunity to listen to speeches by experts from CIPE Ukraine, the U.S.-Ukraine Business Council (USUBC), the UN Global Compact in Ukraine, and the Entrepreneurship and Export Promotion Office, Diia.Business I Ternopil and representatives of participating companies and institutions that joined the Cluster Platform project as entrepreneurs and innovators.

As part of our regular section this week, we would like you to consider the following initiatives to support business.

On February 24, the Financial Action Task Force on Money Laundering FATF completely suspended Russia's membership in the organization.

Companies face various types of risks that can negatively affect their operations. To ensure success, companies have to take proactive measures to manage risks, including compliance and integrity. Implementing compliance plays an important role in risk management, as failure to meet standards can result in significant financial and reputational damage.

A year ago, Russia carried out a brutal full-scale invasion of Ukraine. This day changed Ukrainians’ lives and showed the world the true face of the aggressor country. Despite our country's challenges and losses, we have shown incredible bravery and resilience. We have not broken down and relentlessly continue to fight for our Independence. The price of our Victory and Freedom is very high. We will never forget the fallen soldiers and civilians in this brutal war.

KPMG is an international network of independent firms that provide audit, tax and consulting services.