Gaining a leading edge in Ukraine
Joining Praxity enabled Kyiv Audit Group to deliver world class services to a wider client base.
“It gives us a feeling of belonging and guarantees us a competitive advantage in the Ukrainian market.”
Profile
Firm: Kyiv Audit Group
Praxity membership: Affiliate
Sector: Accountancy and Audit
Head office: Kiev
Kyiv Audit Group (KAG) is an independent Ukrainian firm which, after 25 years in business, has built a strong reputation and leading positions in auditing and consulting. The firm is focused on achieving growth through investing in people and technology, and developing local and international connections.
Since 2002, KAG has been a member of the European Business Association, a forum to help professionals work together to solve complex business challenges in Ukraine. KAG became actively involved in international cooperation when Ukrainian entities and organisations, which had already entered foreign markets, began to attract interest and support of overseas investors. The following year, the firm became a representative of accounting and audit network Мoores Rowland International. Five years later, KAG joined Praxity, the world’s largest alliance of independent accounting firms, to extend this collective approach globally.
The challenge
Having established KAG as a trusted local business, leaders at the firm wanted to provide a broader range of expertise to help clients do domestic and cross-border business more effectively. The aim was to obtain a larger share of the local market while staying true to the firm’s philosophy that “people are the heart of the company”, with the focus on professionalism and quality of service.
Doing business in Ukraine has been difficult in recent times, not only because of the impact of the pandemic, but also because of a sustained period of political and economic instability. This has placed even more importance on the value of good people and providing access to a wider range of specialist expertise to help clients overcome increasingly complex challenges.
The Praxity solution
Being part of Praxity enabled KAG to tap into the global expertise of quality independent accounting firms in different countries, but also to share specialist knowledge of doing business in Ukraine. The alliance provides a platform for accounting professionals to develop connections, share knowledge and build relationships with likeminded people worldwide. Pooling knowledge in this way, enables participant firms to help their clients overcome their business challenges.
The Ukrainian firm had to meet stringent criteria to be accepted into the alliance, not just in terms of size, strength and market share, but also independence, efficiency, integrity, transparency and a commitment to high quality and ethical requirements. General Director Iryna Igumnova says: “We challenged ourselves and decided we were completely ready and absolutely met the high criteria required to be part of the alliance.” Knowing that other participant firms meet the same criteria is a fundamental part of the alliance’s success because members not only offer a high level of expertise, but they also have total faith in each other to solve client challenges.
The outcome: an increased share of the market
Praxity membership expands the capabilities of Kyiv Audit Group to achieve business success and reach its true potential. Commenting on the benefits of being part of the Praxity ‘family’, Iryna says: “Praxity is an international alliance that brings together honorable professionals. It gives us a feeling of belonging in the international community and guarantees us a competitive advantage in the Ukrainian market.”
She adds: “Praxity provides access to services that meet high quality standards, which today is extremely necessary both in local and international business. And with the seamless collaboration of partners within the alliance, members have the opportunity to share their experiences while leveraging highly tailored business solutions and deep regional understanding. Thus, as a participant firm, we can provide the best services to clients. As an additional marketing leverage, it also means getting referrals, which is a mutually beneficial interest.”