ey romania - service lines presentation

EY Romania

Sound and lasting relationships

July 2013

Who is EY?

► A global firm with over 167,000 people in 140 countries and 700 offices

► Globally we audit more of the Fortune 1,000 companies than any other firm

► We take pride from being world leader as tax provider► We provide transactional services to more than half of Fortune’s

magazine Top 100 US companies► We hold top market positions in more than two thirds of the countries

that comprise our local market► In the fiscal year ended on 30 June 2012, the global revenues of the

firm reached US$ 24.4b

Europe Middle East India Africa Area (EMEIA)

EMEIA Area integrates the country practices across Western and Eastern Europe, the Middle East, India and Africa and uniting 81,000 talented people across 93 countries.

EMEIA means we can:► Move more swiftly to bring together the best teams to

service our accounts, drawing on all our expertise, across sectors, services and geographies

► Move more quickly to break down silos and internal barriers to executing client engagements and account plans

► Quickly and effectively respond to the market developments that affect our clients

► Integrate and enhance our internal Q&RM processes to further improve the quality of our services

EY in Romania

► EY is present in Romania since 1992

► Currently has over 450 employees, out of which approx. 400 professional staff and 16 partners

► EY Romania’s professionals include auditors, business and financial advisors, taxation and legal advisors, and transaction consultants

► The business is configured in four major service lines: Assurance, Tax, Transactions and Advisory

► Legal services are provided through our affiliated law firm in Romania

► We have a tailored approach of each industry sector, with key specialization in financial services, telecommunications, oil and gas, energy, utilities, and real estate

Our services

► Assurance Services► External Audit► Accounting and Compliance Reporting► Financial Accounting Advisory Services► Fraud, Investigation & Disputes Services

► Advisory Services► Performance Improvement Services► Risk Services► IT Advisory

► Tax Advisory & Compliance Services► Transaction Advisory Services► Legal Services (through the affiliated law office)

1. Assurance Services

► External Audit► Group reporting package► Other assurance services:

► Review engagements► Agreed upon procedures► Special purpose audit reports

► Accounting and Compliance Reporting► Financial Accounting Advisory Services

► Financial statements – Romanian statutory, IFRS, US GAAP

► Compilations – IFRS conversion, IFRS, US GAAP

► Reporting accountant – Capital market listings

► Fraud, Investigation & Disputes Services

1. Assurance Services1.1 External audit

► Statutory audit► Group reporting package► Other assurance services:

► Review engagements► Agreed upon procedures► Special purpose audit reports

1. Assurance Services1.2 Fraud Investigation and Disputes Services

► Disputes► Fraud related services► Compliance► Specialized reviews

1. Assurance Services1.3 Financial Accounting & Advisory Services

► Accounting assistance► Providing background information (including

written summaries) on accounting principles, requirements and related interpretations

► Providing considerations (including written summaries) as management determines how to account for a class of transactions – particularly PPA under IFRS 3

► Assisting management in documenting the accounting policies it has selected

► Educating management about the requirements of a new or existing accounting standard –includes assistance for GAAP conversion

► Participating with management in discussions with its external auditor on accounting alternatives being considered by the client

► Assisting management as it prepares the financial statements, including footnotes

► Assisting in the preparation of documents, schedules, tables, and memoranda, among others, to be used in connection with public offerings of securities or private placements

► Accounting advice► Technical position papers, including “white

papers”, summarizing the relevant technical requirements and outlining considerations in determining the appropriate accounting

► Accounting policy manuals ► Draft or skeleton financial statements ► Comprehensive lists of transaction-specific

accounting adjustments – particularly PPA under IFRS 3

► Calculations of the carrying amounts of tax assets, liabilities and reserves to be recognized in the financial statements (i.e., determining whether deferred tax assets may be realized, appropriateness of valuation allowances or tax contingency reserves)

► Preparing documentation on the application of accounting principles to a specific transaction that management will use in the preparation of its financial statements – includes extensive GAAP conversion assistance and implementation

► Delivering client / industry specific accounting trainings

2. Advisory Services

► Performance Improvement Services

► Risk Services► IT Advisory

2. Advisory Services2.1 Performance Improvement

► Finance transformation► Set up shared service centers► Program advisory services► Effectiveness of IT Function► Manage / optimize supply chain► Customer segmentation, service effectiveness, process

improve

2. Advisory Services2.2 Risk Services

► Enterprise risk management► Contract risk services► Internal audit / control► Actuarial► Financial risk management

2. Advisory Services2.3 IT Advisory

► IT security management, strategy & organization, data protection

► Identity & access management► IT Corporate governance► SAP/Oracle assessment, control design &

implementation, security, and vendor selection► Business continuity planning► IT process outsourcing► Third party reporting (IT audit, certifications, computer

forensic)

3. Tax Advisory & Compliance Services

► International Tax and Transfer Pricing

► Business Tax Services► Indirect Tax Services► Human Capital Services► Transaction Tax Services

3. Tax Advisory & Compliance Services 3.1 International Tax and Transfer Pricing

► Tax efficient holding company locations ► Cross-border financing solutions ► Tax treaties analysis, profit repatriation, loss utilization► Inbound and outbound structuring ► Tax efficient supply chain and shared services ► Transfer pricing studies and related documentation► European tax issues e.g., EU tax harmonization

3. Tax Advisory & Compliance Services3.2 Business Tax Services

► Business tax advisory► Business tax compliance► Tax accounting and risk advisory

3. Tax Advisory & Compliance Services3.3 Indirect Tax Services

► VAT planning and structuring► VAT settlement and refund► Minimization of VAT pro-rata impact► Optimization of logistic structures► Planning related to the complex rules on classification and

origin of goods► Energy products-related taxes planning

3. Tax Advisory & Compliance Services3.4 Human Capital Services

► Global Mobility► Expatriate tax compliance► Individual assignments structuring► Immigration and labor law compliance► Mobility advisory

► Performance and Rewards► Implementation of HR infrastructure for start-up companies► HR due diligence and post mergers HR integration► Implementation of tailored retention policies► Alignment of people strategies to business► HR outsourcing

3. Tax Advisory & Compliance Services3.5 Transaction Tax Services

► Structuring (e.g., pre-deal structuring and post-deal implementation)

► Tax due diligence

4. Transaction Advisory Services

► Lead Advisory► Restructuring► Transaction Integration ► Valuations & Business Modeling► Transaction Support

4. Transaction Advisory Services4.1 Lead Advisory

► Capital and Debt Advisory► Capital Markets Lead Advisory:

► Public company► Initial Public Offering► Business Planning

► M&A Advisory (buy-side, sell-side)► Infrastructure Advisory

4. Transaction Advisory Services4.2 Restructuring

► Accelerated Disposals & Acquisitions ► Distressed Corporate Advisory ► Distressed Supplier Advisory ► Working Capital Services ► Short-term Cash Flow Advisory ► Business and Strategic Reviews

4. Transaction Advisory Services4.3 Valuation & Business Modeling

► Business Modeling - Build and Decision Support ► Business Modeling - Review ► Financial Reporting Valuations► Sell-side Transaction Valuations ► Tax Valuations and Reviews

4. Transaction Advisory Services4.4 Transaction Support

► Due Diligence Services (sell-side, buy-side):► Pre-acquisition, pre-financing, transaction carve-out► Financial, tax, commercial

► New Project Feasibility Studies ► Business Plan Assessment ► Market Studies / M&A Strategy Advice ► Revenue Synergy Analysis► Debt / Equity Offering Support ► Exit Readiness Services ► IPO Services

Legal Services (through our affiliated law office)

► Corporate and commercial law► Banking, finance and market

operations► Mergers and acquisitions► Real estate advisory► Labor Law► Litigation► EU competition and regulatory

compliance

Industry sector expertise

► Asset management

► Automotive

► Banking and capital markets

► Life sciences

► Consumer products

► Insurance

► Media and entertainment

► Oil and gas

► Real estate

► Technology

► Telecommunications

► Utilities

We have a tailored approach of each industry sector, with key specialization in:

Our leaders

► Country Managing Partner► Bogdan Ion

[email protected]

► Assurance Services► Anamaria Cora, Partner

[email protected]

► Tax & Legal Services► Venkatesh Srinivasan, Partner

[email protected]

► Advisory Services► Saulius Adomaitis, Partner

[email protected]

► Transaction Advisory Services► Florin Vasilica, Partner

[email protected]

mailto:[email protected]





Hunedoara

Alba

Prahova

Buzău

Galaţi

Brăila

DoljOlt

TeleormanGiurgiu

Călăraşi

Ilfov

Caraş-Severin

Mehedinţi

Timiş

Arad

Cluj

Sălaj

Satu Mare Maramureş

BistriţaNăsăud

Suceava

HarghitaMureş

SibiuBraşov

Vâlcea ArgeşGorj

Botoşani

Iaşi

VasluiBacău

Covasna

Constanţa

IalomiţaDâmboviţa

Tulcea

Vrancea

NeamţBihor

EY offices in Romania

EY BucharestTower Center, 22nd Floor15-17 Ion Mihalache Blvd.Sector 1, 011171 Bucharest

Tel: +40-21 402 4000Fax: +40-21 310 7193

E-mail: [email protected] site: www.ey.com/ro

EY TimisoaraFlavia Palace Building, 1st Floor10 Tudor Vladimirescu Street300195 Timisoara

Tel: +40-256 499 742Fax: +40-256 499 743

EY Cluj-NapocaVictor Babes Business Center21 Victor Babes, 1st Floor400012 Cluj-Napoca

Tel: +40 264 598 221Fax: +40 264 598 231

EY IasiUnited Business Center 3 2nd Block, 1st Floor7D-7E Palas Street, IasiIasi CountyRomania

Tel: +40 232 708 143Fax: +40 332 730 372


http://www.ey.com/ro

EY | Assurance | Tax | Transactions | Advisory

About EYEY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

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