KPMG ACADEMY. Grasp knowledge into your hands

Transcript

1 KPMG ACADEMY Grasp knowledge into your hands

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3 Foreword The Academy collaborates with experts from the KPMG s network, professionals from other successful companies and academics from both Cyprus and abroad. We organize in-house and open training programs as well as international conferences, addressing a wide range of areas such as technical and financial matters as well as essential professional skills. This brochure provides an overview of our open courses and valuable information on seminars that shall keep you up to date and enhance your business performance. Dear clients and friends, The KPMG Academy training activities have been met with great success. As of April 2009, our experienced training team delivered seminars to approximately 3000 professionals across all industries in Cyprus and organized 4 international conferences on leadership, taxation and tourism, welcoming a selection of world renowned speakers. The KPMG Academy is committed to assist its clients in overcoming the challenging times we are facing by scheduling new seminars which are relevant to today s environment. Being aware of the current economic conditions and in a move to support our clients we have decided to adjust our prices accordingly. Our fees reflect our determination to work with and bring to you consistent high-quality services, while being mindful of cost concerns. All fees are based on composite daily rates which represent a significant discount on our standard rates. For the period of October December 2013, we offer a selection of 7 open seminars which reflect current market needs and training priorities, 6 of them have been approved by the Human Resource Development Authority (HRDA). Suitable subsidies will, therefore, be available to all HRDA qualifying participants. These seminars can be also delivered in-house and can be tailored to the specific needs of your organization. Should you wish to learn more regarding our open, inhouse or new series of specialized seminars following CySEC s decision to enforce a directive which requires from all certified persons registered in the public register to attend professional training courses, please, do not hesitate to contact our seminars coordinator, Persa Papademetriou. You may find her contact details on page 6. We would like to take this opportunity to thank you in advance for trusting KPMG as your preferred training provider and we look forward to welcoming you to our modern training facilities. Kind Regards, Christos V. Vasiliou Head of KPMG Academy 3

4 A. KPMG ACADEMY SEMINARS By Seminar category The seminars below may also be organized as in-house training programs. A separate table is displayed on page five (5) which indicates the date, the cost, the available HRDA subsidy, the duration as well as the language of each seminar. No. TITLE LANGUAGE PAGE IFRS AND ACCOUNTING 1 CURRENT ECONOMIC ENVIRONMENT IFRS APPLICATION ISSUES ENG 8 2 TAXATION ΔΗΛΩΣΕΙΣ ΦΠΑ, ΠΙΝΑΚΕΣ VIES & ΔΗΛΩΣΕΙΣ INTRASTAT: ΤΕΧΝΙΚΑ ΖΗΤΗΜΑΤΑ ΚΑΤΑ ΤΗ ΣΥΜΠΛΗΡΩΣΗ ΤΟΥΣ GR 10 3 ΠΡΟΣΦΑΤΕΣ ΤΡΟΠΟΠΟΙΗΣΕΙΣ ΣΤΗΝ ΠΕΡΙ Φ.Π.Α. ΝΟΜΟΘΕΣΙΑ GR 11 FINANCIAL RISK MANAGEMENT 4 NEW DEVELOPMENTS IN THE BANKING SECTOR ENG 13 ORGANISATIONAL STRATEGY 5 ΣΤΡΑΤΗΓΙΚΕΣ ΕΠΙΒΙΩΣΗΣ ΕΠΙΧΕΙΡΗΣΕΩΝ GR 15 RESTRUCTURING 6 ΠΡΑΚΤΙΚΑ ΠΑΡΑΔΕΙΓΜΑΤΑ ΓΙΑ ΤΗΝ ΕΞΑΣΦΑΛΙΣΗ ΚΑΙ ΑΠΟΠΛΗΡΩΜΗ ΧΡΕΩΝ: ΔΙΟΡΙΣΜΟΣ ΠΑΡΑΛΗΠΤΗ/ΔΙΑΧΕΙΡΙΣΤΗ GR 17 7 VALUATION TECHNIQUES SEMINAR ENG 18 4

5 KPMG ACADEMY OPEN SEMINARS By Seminar date TITLE CURRENT ECONOMIC ENVIROMENT: IFRS APPLICATION ISSUES ΣΤΡΑΤΗΓΙΚΕΣ ΕΠΙΒΙΩΣΗΣ ΕΠΙΧΕΙΡΗΣΕΩΝ DATE PRICE PRICE HRDA NET COST TEACHING Including VAT Including VAT SUBSIDY* HOURS LANGUAGE 14/10/ , ,60 7hrs English 17-18/10/ Nil hrs Greek NEW DEVELOPMENTS IN THE BANKING SECTOR 05/11/ , ,40 6hrs English ΔΗΛΩΣΕΙΣ ΦΠΑ, ΠΙΝΑΚΕΣ VIES & ΔΗΛΩΣΕΙΣ INTRASTAT: ΤΕΧΝΙΚΑ ΖΗΤΗΜΑΤΑ ΚΑΤΑ ΤΗ ΣΥΜΠΛΗΡΩΣΗ ΤΟΥΣ 12/11/ hrs Greek ΠΡΑΚΤΙΚΑ ΠΑΡΑΔΕΙΓΜΑΤΑ ΓΙΑ ΤΗΝ ΕΞΑΣΦΑΛΙΣΗ ΚΑΙ ΑΠΟΠΛΗΡΩΜΗ ΧΡΕΩΝ: ΔΙΟΡΙΣΜΟΣ ΠΑΡΑΛΗΠΤΗ/ ΔΙΑΧΕΙΡΙΣΤΗ 22/11/ , ,40 6hrs Greek VALUATIONS TECHNIQUES SEMINAR 02-03/12/ , ,40 14hrs English ΠΡΟΣΦΑΤΕΣ ΤΡΟΠΟΠΟΙΗΣΕΙΣ ΣΤΗΝ ΠΕΡΙ ΦΠΑ ΝΟΜΟΘΕΣΙΑ 09/12/ hrs Greek *The subsidy may change according to the size of the company 5

6 General Information In-House and Open Training Programmes: KPMG Academy's specialized team of professional trainers has developed seminars on broad topics both In-House and Open. In-House Seminars may be offered on demand for small groups of employees and associates as well as target the training needs of a specific company. The content, duration and level of these seminars can be adjusted. If a company wishes to apply for sponsorship to the Human Recourse Development Authority (HRDA), KPMG Academy will provide any necessary assistance for the preparation of the application. Open Executive Courses/Seminars address a wide range of areas which include: technical and financial matters, selling, marketing and customer relationships, leadership and human resource management as well as essential professional skills. The attendees of these courses may be employers and employees of different companies. Training Venue Details: Most seminars are conducted at KPMG's training centre in Nicosia. Payment Procedures: Bank deposit at: Hellenic Bank Main Branch KPMG Limited Swift Code: HEBA CY2N IBAN: CY Cheque: The cheque should be sent to Persa Papademetriou. Please ensure that you send a copy of all payment-related documents and the bank transfer slip by fax ( ) to the attention of Persa Papademetriou. Information: For further information you may contact Persa Papademetriou: T: F: E: academy@kpmg.com.cy W: Address: KPMG Limited 14 Esperidon Street 1087 Nicosia Cyprus Registrations: You may register for a seminar by submitting the registration form at the back of this brochure as well as the relevant fee, at least five (5) working days prior to the commencement date of the seminar. An order of priority will be maintained as the number of seats are limited. The number of participants for HRDA subsidized seminars is restricted to 25. You may submit your registration form by fax: or ppapademetriou@kpmg.com Alternatively you may post your registration form to the KPMG address, indicated above, to the attention of Persa Papademetriou, KPMG Academy coordinator. 6

7 IFRS and Accounting

8 P R O G R A M D E TA I L S Date: 14/10/2013 Location: KPMG Offices, Nicosia Time: 8:30 a.m. - 4:45 p.m. Investment: VAT Net investment after subsidy from the HRDA of 133: 244,60 (including VAT) The subsidy may change according to the size of the company. The subsidy is provided only to all eligible participants. Language: English Directors: P. Peleties, G. Prodromou, P. Vanezis, A. Efstathiou Current Economic Enviroment IFRS Application Issues This seminar may contribute to Continuing Professional Development requirements. The purpose of this course is to provide a comprehensive and up-to-date technical training on advanced application issues and in-depth learning related to IFRS application issues relevant to the current economic environment via interactive mini-case and scenario based modules. Course Objectives By the end of the seminar participants will: Learn about the requirements of IFRSs in relation to impairment of financial assets. Form an understanding of accounting for business combinations under the requirements of IFRSs. Be informed regarding the requirements of IFRSs in relation to the impairment testing of non-financial assets. Form an understanding of hedge accounting under the requirements of IFRSs. Methodology The teaching methodology of this course combines formal theoretical instruction with frequent reference to real case scenarios. The course is intended to be practical and interactive, with delegates being encouraged to ask questions. Participants* Financial controllers, finance managers, finance directors and auditors who wish to be informed on IFRS application issues relating to the topics above. Course Content Introduction Financial instruments Impairment IAS39 Determine whether an individual or collective impairment assessment is appropriate Assess if objective evidence of impairment exists Calculate impairment loss Determine interest to be recognised after impairment Assess when impairment reversals are appropriate Calculate impairment reversals Business combinations IFRS 3 Explain the definition of a business combination Describe the steps in the acquisition accounting process Explain how IFRS 3 is applied after the business combination Present how to account for a step acquisition Evaluate the quality of disclosures Impairment of Non-Financial assets IAS 36 Identify the level of impairment testing Clarify when to test for impairment Describe the sequence of impairment testing Explain how to measure recoverable amount Describe how to measure and recognise an impairment loss Evaluate the quality of disclosures Financial instruments Debt Restructuring and Tainting of the HTM Portfolio IAS 39 Apply IAS 39 s requirements to restructuring of financial assets Identify the implications of forbearance practices on impairment recognition and disclosures Determine whether a sale or reclassification of held-to-maturity (HTM) financial assets leads to tainting Questions and Answers The programme has been approved by the HRDA. Enterprices participating with their employees who satisfy HRDA s criteria, are entitled to subsidy *The number of participants is restricted to 28. 8

9 Taxation

10 Λ Ε Π ΤΟ Μ E Ρ Ε Ι Ε Σ Σ Ε Μ Ι ΝΑΡIΟΥ Ημερομηνία: 12/11/2013 Τόπος: Γραφεία KPMG, Λευκωσία Ώρα: 8:30 π.μ - 4:45 μ.μ Κόστος: Φ.Π.Α. Kαθαρό κόστος μετά τη χορηγία της ΑΝΑΔ 91: 263 (συμπεριλ. Φ.Π.Α.) για τους δικαιούχους συμμετέχοντες Το ποσό της επιχορήγησης ενδέχεται να αλλάξει αναλόγως του μεγέθους της επιχείρησης. Γλώσσα: Ελληνική (οι σημειώσεις θα είναι στην Αγγλική) Εισηγητές: Χ. Χαραλάμπους, Ι. Κεφάλας, Ε. Χριστοδουλίδη Δηλώσεις ΦΠΑ, Πίνακες VIES & Δηλώσεις INTRASTAT: Τεχνικά ζητήματα κατά τη Συμπλήρωσή τους Το σεμινάριο αυτό μπορεί να συμβάλει στις προϋποθέσεις για Συνεχιζόμενη Επαγγελματική Ανάπτυξη. Ενημέρωση για τη σωστή συμπλήρωση, το είδος των πληροφοριών που πρέπει να καταχωρούνται και τον έλεγχο του περιεχομένου δηλώσεων ΦΠΑ, Ανακεφαλαιωτικών Πινάκων VIES και δηλώσεων INSTRASTAT (αφίξεων και αποστολών). Στόχος Σεμιναρίου To σεμινάριο θα βοηθήσει τους συμμετέχοντες να: Ενημερωθούν για το είδος των πληροφοριών που πρέπει να καταχωρούνται στις δηλώσεις ΦΠΑ Κατανοήσουν τους κανόνες που ισχύουν γύρω από τον περιορισμό του δικαιώματος διεκδίκησης φόρου εισροών Εξοικειωθούν με διάφορες μεθόδους επιμερισμού του φόρου εισροών Αντιληφθούν αν χρειάζεται να συμπληρώνουν Ανακεφαλαιωτικούς Πίνακες και πώς να τους συμπληρώνουν Γνωρίζουν αν πρέπει να συμπληρώνουν δηλώσεις INSTRASTAT (αφίξεων ή/και αποστολών) και να γνωρίζουν τι πληροφορίες πρέπει να καταχωρούνται σε αυτές Μεθοδολογία Tο σεμινάριο βασίζεται στην Κυπριακή περί ΦΠΑ Νομοθεσία και σε οδηγίες που κατά καιρούς εκδόθηκαν από την Υπηρεσία ΦΠΑ μέσω σχετικών ερμηνευτικών εγκυκλίων. Στα πλαίσια του σεμιναρίου θα δοθούν πρακτικά παραδείγματα βασισμένα τόσο στην πολυετή μας πείρα, όσο και στις εμπειρίες των πελατών μας. Στους συμμετέχοντες θα δοθεί η δυνατότητα υποβολής ερωτημάτων για επιβεβαίωση και αναβάθμιση των γνώσεών τους. Συμμετέχοντες* Οικονομικοί διευθυντές, αρχιλογιστές, λογιστές, βοηθοί λογιστηρίου και εργαζόμενοι επιχειρήσεων οι οποίοι εφαρμόζουν στην πράξη τις πρόνοιες της Κυπριακής Νομοθεσίας Φ.Π.Α. Το σεμινάριο απευθύνεται ειδικότερα σε πρόσωπα τα οποία ασχολούνται με την προετοιμασία και υποβολή δηλώσεων ΦΠΑ, Ανακεφαλαιωτικών Πινάκων (VIES) και δηλώσεων INTRASTAT. Περιεχόμενο Σεμιναρίου Συμπλήρωση δηλώσεων ΦΠΑ Ανάλυση δήλωσης ΦΠΑ - διευκρίνιση των πληροφοριών που πρέπει να καταχωρούνται σε κάθε τετράγωνο της δήλωσης ΦΠΑ Στοιχειώδης έλεγχος της ορθότητας του περιεχομένου μίας δήλωσης ΦΠΑ, με βάση τις αξίες που έχουν καταχωρηθεί Φόρος εισροών Οικονομικές έναντι μη οικονομικές δραστηριότητες Δικαίωμα διεκδίκησης φόρου εισροών / περιορισμός φόρου εισροών Επιπτώσεις στη διεκδίκηση φόρου εισροών με την αλλαγή των κανόνων τόπου παροχής υπηρεσιών από 01/01/2010 Επιμερισμός φόρου εισροών Μέθοδος υπολογισμού του επιτρεπόμενου φόρου εισροών - Επιμερισμός μεταξύ οικονομικών και μη οικονομικών δραστηριοτήτων - Επιμερισμός μεταξύ εξαιρουμένων και φορολογητέων δραστηριοτήτων Κανόνας De minimis Ετήσια αναπροσαρμογή (Annual adjustment) Πίνακες VIES & δηλώσεις INTRASTAT Πότε πρέπει να υποβάλλονται οι Ανακεφαλαιωτικοί Πίνακες (VIES) & οι δηλώσεις INTRASTAT Ορθή συμπλήρωση Ανακεφαλαιωτικών Πινάκων (VIES) & δηλώσεων INTRA- STAT Έλεγχος της εγκυρότητας των αριθμών ΦΠΑ πελατών εγγεγραμμένων για σκοπούς ΦΠΑ σε άλλα Κράτη Μέλη της Ευρωπαϊκής Ένωσης Διορθωτικές ενέργειες Διαδικασία διόρθωσης λαθών σε δηλώσεις ΦΠΑ Διαδικασία διόρθωσης λαθών σε Ανακεφαλαιωτικούς Πίνακες (VIES) & δηλώσεις INTRASTAT Πρόστιμα/ χρηματικές επιβαρύνσεις / ποινικά αδικήματα αναφορικά με τη συμπλήρωση δηλώσεων ΦΠΑ, Ανακεφαλαιωτικών Πινάκων (VIES) & δηλώσεων INTRASTAT Το πρόγραμμα εγκρίθηκε από την ΑνΑΔ. Οι επιχειρήσεις που συμμετέχουν με εργοδοτούμενούς τους, οι οποίοι ικανοποιούν τα κριτήρια της ΑνΑΔ, θα τύχουν της σχετικής επιχορήγησης. *Ο αριθμός των συμμετεχόντων είναι περιορισμένος σε

11 Λ Ε Π ΤΟ Μ E Ρ Ε Ι Ε Σ Σ Ε Μ Ι ΝΑΡIΟΥ Ημερομηνία: 09/12/2013 Τόπος: Γραφεία KPMG, Λευκωσία Ώρα: 8:30 π.μ - 4:45 μ.μ Κόστος: Φ.Π.Α. Kαθαρό κόστος μετά τη χορηγία της ΑΝΑΔ 91: 263 (συμπεριλ. Φ.Π.Α.) για τους δικαιούχους συμμετέχοντες Το ποσό της επιχορήγησης ενδέχεται να αλλάξει αναλόγως του μεγέθους της επιχείρησης. Γλώσσα: Ελληνική Εισηγητές: Χ. Χαραλάμπους, Κ. Βουτουρή, Μ. Γρέκας Πρόσφατες Τροποποιήσεις στην περί Φ.Π.Α. Νομοθεσία Το σεμινάριο αυτό μπορεί να συμβάλει στις προϋποθέσεις για Συνεχιζόμενη Επαγγελματική Ανάπτυξη. Σκοπός του εκπαιδευτικού αυτού σεμιναρίου είναι να ενημερωθούν οι συμμετέχοντες για τις αλλαγές που έχουν επέλθει στην Κυπριακή περί Φ.Π.Α. Νομοθεσία. Η σωστή και έγκαιρη ενημέρωση τόσο των πελατών μας όσο και των ατόμων που ασχολούνται με θέματα έμμεσης φορολογίας αποτελεί πρώτιστο στόχο του Οίκου μας, καθώς μέσω της σωστής φορολογικής μεταχείρισης των συναλλαγών της, κάθε επιχείρηση με έδρα τη Δημοκρατία μπορεί να αποφύγει κυρώσεις που ενδέχεται να της επιβληθούν από την Υπηρεσία Φ.Π.Α. Στόχοι Σεμιναρίου Στόχοι του σεμιναρίου αποτελούν οι: Επεξήγηση και ανάλυση των αλλαγών που έχουν επέλθει στην Κυπριακή περί Φ.Π.Α. νομοθεσία Επεξήγηση των ερμηνευτικών εγκυκλίων που εκδόθηκαν από την Υπηρεσία Φ.Π.Α. σε σχέση με τις ανωτέρω αλλαγές Ανάλυση σημαντικών αποφάσεων του Δικαστηρίου των Ευρωπαϊκών Κοινοτήτων και του Ανώτατου Δικαστηρίου της Δημοκρατίας σε θέματα Φ.Π.Α. Επιμόρφωση των συμμετεχόντων για τις τρέχουσες εξελίξεις στον τομέα του Φ.Π.Α. για την καλύτερη διεξαγωγή των εργασιών τους Ενδελεχής επεξήγηση με καθημερινά παραδείγματα. Μεθοδολογία Κατά τη διάρκεια του εκπαιδευτικού προγράμματος θα παρουσιαστούν στους συμμετέχοντες πρακτικά παραδείγματα και θα γίνει ανταλλαγή εμπειριών και απόψεων, ούτως ώστε οι εκπαιδευόμενοι να μάθουν μέσα από την ενεργό συμμετοχή τους και δράση. Συμμετέχοντες* Οικονομικοί διευθυντές, αρχιλογιστές, λογιστές, βοηθοί λογιστηρίου και εργαζόμενοι επιχειρήσεων οι οποίοι εφαρμόζουν στην πράξη τις πρόνοιες της Κυπριακής Νομοθεσίας Φ.Π.Α. Περιεχόμενο Σεμιναρίου Εισαγωγή Επισκόπηση βασικών εννοιών της Κυπριακής περί Φ.Π.Α. Νομοθεσίας Μηχανισμός της αντίστροφης χρέωσης Ιθύνουσες εταιρείες: επιπτώσεις που προκύπτουν σύμφωνα με την περί Φ.Π.Α. νομοθεσία Επιπτώσεις Ιθυνουσών εταιρειών για σκοπούς Φ.Π.Α. Επιμερισμός του σχετικού φόρου εισροών -C-496/11 (Portugal Telecom, input VAT recovery of holding company) -C-651/11 (X BV, disposal of shares and TOGC) Πρόσφατες εξελίξεις στην περί ΦΠΑ Νομοθεσία Τόκος επί των πιστωτικών υπολοίπων Τήρηση Βιβλίων και Αρχείων Τροποποιήσεις στο Σχέδιο Κεφαλαιουχικών Στοιχείων Αλλαγή στον τόπο παροχής υπηρεσιών για μακροχρόνια μίσθωση μεταφορικών μεσών Παροχή Υπηρεσιών σε άλλα ΚΜ - Ανακεφαλαιωτικός Πίνακας VIES Αλλαγές στη διαδικασία εγγραφής & διαγραφής από το Μητρώο ΦΠΑ Φόρος εισροών Σε ποιες περιπτώσεις επιτρέπεται η διεκδίκησή τους και σε ποιες περιορίζεται σύμφωνα με την περί Φ.Π.Α. Νομοθεσία Διαδικασία διεκδίκησης επιστροφής του πιστωτικού υπολοίπου C-124/12 (AES-3C, deduction of VAT on work clothing, transport and business travel) C-142/11 (David, restriction/prohibition of the input VAT recovery right) Διαδικασίες σε σχέση με τους εταιρικούς χρεώστες Επισφαλείς χρεώστες Δικαίωμα διεκδίκησης του προκύπτοντος ΦΠΑ εισροών Υπηρεσίες είσπραξης χρέους & διαχείρισης χρεωστών C-93/10 (GFKL Financial Services, transfer of bad debts) Επιστροφή ΦΠΑ εισροών που προέκυψε σε άλλα Κράτη Μέλη (πρώην 8η Κοινοτική Οδηγία) Το πρόγραμμα εγκρίθηκε από την ΑνΑΔ. Οι επιχειρήσεις που συμμετέχουν με εργοδοτούμενούς τους, οι οποίοι ικανοποιούν τα κριτήρια της ΑνΑΔ, θα τύχουν της σχετικής επιχορήγησης. *Ο αριθμός των συμμετεχόντων είναι περιορισμένος σε

12 Financial Risk Management

13 P R O G R A M D E TA I L S Date: 05/11/2013 Location: KPMG Offices, Nicosia Time: 8:30 a.m. - 3:30 p.m. Investment: VAT Net investment after subsidy from the HRDA of 114: 216,40 (including VAT) The subsidy may change according to the size of the company. The subsidy is provided only to all eligible participants. Language: English Directors: M. Lazarou, E. Neocleous New Developments in the Banking Sector This seminar may contribute to Continuing Professional Development requirements. Over the last few years, banking has been transformed from one of the most stable sectors of the economy to a more volatile and unpredictable one, with the banks being at the center of the economic crisis. Various EU governments and European authorities attempt to provide support to the financial sector as well as to failing financial institutions in order to safeguard the stability of the European financial system. The developments are numerous and on many fronts, therefore, the players in the financial industry of Cyprus have to be able to follow them and take the necessary measures which will fence them from the significant changes in the sector. Course Objectives At the end of this seminar the participants will have a general understanding of the spectrum of the forthcoming regulatory changes impacting the banking sector and a knowledge of the technical aspects of the: Latest version of the Capital Requirements Directive (CRD IV) including amendments in the definition of capital Crisis management Law and Recovery and Resolution Plans Banks restructuring in Europe and Cyprus Changes in the Corporate Governance Directive and the new remuneration requirements Proposals for a banking union in the Eurozone Measures for the restructuring of the banking sector in Cyprus in accordance with the MoU The participants will be informed about all the new significant developments and regulations in the Banking sector. Methodology The teaching methodology combines formal theoretical instruction with reference to relevant examples and case studies. The course is intended to be practical and interactive and the participants are encouraged to ask questions and participate in discussions. The knowledge obtained during the course is intended to be of immediate practical use in their workplace. Participants* Employees from Financial Institutions (Banks, Cooperative Credit Institutions, Investment Firms) and Regulatory Authorities (Central Bank, CySEC ) who come from the following departments/ groups: Senior Management, Head of Departments, Risk Management, Compliance, Internal Audit, Accounting. Course Content Introduction: What went wrong with the Financial Services Sector? Analysis of the factors that pushed the financial system of Europe to the brink of collapse In depth analysis of the weaknesses of the Banking regulation up to now Discussion on the effectiveness of the Banking Regulation The recent crisis and the financial sector The case of Cyprus and the impact of the MoU measures on the banking sector The main developments in the financial sector arena Crisis management Law, Recovery and Resolution Plans Banks restructuring in Europe Case studies from Ireland, Greece, the UK and Cyprus Barnier Group proposals, Interim Report of the Independent Commission on the Future of the Cyprus Banking Sector and other recent proposals/ recommendations and reports Changes in the Corporate Governance Directive and the new remuneration requirements The latest version of the Capital Requirements Directive (CRD IV) including amendments to the definition of capital Banking Union in the Eurozone - Where we stand? The new Developments and the Cyprus Financial Sector: Where we stand? The Crisis Management legislation and all early intervention plans of the governments MoU s provisions for the restructuring of the Banking Sector in Cyprus MoU for Cyprus: Other provisions related to the Banking Sector. The hurdles that the financial sector in Cyprus will have to overcome in the coming years Wrap Up. Questions and Answers. The programme has been approved by the HRDA. Enterprices participating with their employees who satisfy HRDA s criteria, are entitled to subsidy *The number of participants is restricted to

14 Organisational Strategy

15 Λ Ε Π ΤΟ Μ E Ρ Ε Ι Ε Σ Σ Ε Μ Ι ΝΑΡIΟΥ Ημερομηνία: 17-18/10/2013 Τόπος: Γραφεία KPMG, Λευκωσία Ώρα: 8:30 π.μ - 3:30 μ.μ Κόστος: Φ.Π.Α. Γλώσσα: Ελληνική Εισηγητές: Γ. Τζιωρτζής, Χ. Αναγιωτός, Α. Αθανασιάδης. Στρατηγικές Επιβίωσης Επιχειρήσεων Το σεμινάριο αυτό μπορεί να συμβάλει στις προϋποθέσεις για Συνεχιζόμενη Επαγγελματική Ανάπτυξη. Πολλές επιχειρήσεις αντιμετωπίζουν πρόβλημα επιβίωσης παρουσιάζοντας μειωμένη αποτελεσματικότητα σε τομείς όπως η επιχειρησιακή διοίκηση, η αξιοποίηση του ανθρώπινου δυναμικού, η εκμετάλλευση κεφαλαίων, η οργάνωση και η λειτουργική αποδοτικότητα. Το συγκεκριμένο σεμινάριο θα παρουσιάσει στους συμμετέχοντες αναθεωρημένα λειτουργικά μοντέλα και νέες στρατηγικές που θα τους επιτρέψουν να διατηρήσουν την επιχείρηση τους βιώσιμη. Στόχοι Σεμιναρίου Εφαρμογή εργαλείων για αξιολόγηση της εταιρείας και κατανόηση του τομέα στον οποίο δραστηριοποιείται, της οικονομίας καθώς και άλλων παραμέτρων που μπορεί να την επηρεάζουν, με στόχο τη βελτίωση της λειτουργικής της απόδοσης Εκπαίδευση στον τρόπο εφαρμογής σωστών διαδικασιών για την αποτελεσματικότερη διαδικασία λήψης αποφάσεων και την καλύτερη διαχείριση κινδύνων Παρουσίαση τρόπων σταθεροποίησης των ταμειακών ροών με σκοπό την εξασφάλιση βραχυπρόθεσμης βιωσιμότητας της εταιρείας και σωστής ενημέρωσης/διαχείρισης των ατόμων που εμπλέκονται με τη λειτουργία της εταιρείας (μέτοχοι, διοικητικοί σύμβουλοι, υπάλληλοι, δανειστές, πελάτες, πιστωτές) Εκπαίδευση στον τρόπο εφαρμογής διαδικασιών για λειτουργική αναδιάρθρωση Αξιολόγηση των συστημάτων πληροφορικής της εταιρείας και εκπαίδευση για την αναδιάρθρωση του σχετικού τμήματος Μεθοδολογία Διάλεξη με παρουσίαση συγκεκριμένων μεθοδολογιών και εργαλείων (π.χ. πίνακες), παραδείγματα, μελέτες περίπτωσης και πρακτική εξάσκηση με ομαδικά εργαστήρια και επιτελική σύνοψη αποτελεσμάτων Συμμετέχοντες Οι υποψήφιοι συμμετέχοντες πρέπει να είναι: Εκτελεστικοί Διευθυντές, Ανώτεροι Διευθυντές (π.χ. CEO, COO, CFO, CIO) Διευθυντές τμημάτων (π.χ. Operations Manager, Sales Manager) Περιεχόμενο Σεμιναρίου Εργαλεία για την αξιολόγηση της εταιρείας, του τομέα δραστηριότητας της και της οικονομίας Επεξήγηση εργαλείων, όπως Porters Five Forces, SWOT analysis Ανάλυση της εταιρείας για αναγνώριση των κύριων ανταγωνιστών, υποκατάστατων προϊόντων/υπηρεσιών Χρηματοοικονομική αξιολόγηση και αναδιάρθρωση Παρουσίαση και ανάλυση δεικτών και των προκλήσεων που αντιμετωπίζει μια εταιρεία με προβλήματα επιβίωσης Αξιολόγηση των οικονομικών καταστάσεων της εταιρείας Εξέταση των διαθέσιμων επιλογών της εταιρείας για χρηματοοικονομική αναδιάρθρωση με στόχο την μακροπρόθεσμη επιβίωση Βραχυπρόθεσμη επιβίωση και διαχείριση μετρητών σε περιόδους κρίσης Τρόποι σωστών διαδικασιών για την αποτελεσματικότερη λήψη αποφάσεων και την καλύτερη διαχείριση των κινδύνων Σταθεροποίηση στη διαχείριση των ταμειακών ροών σε βραχυπρόθεσμη βάση Εξέταση των διαθέσιμων επιλογών της εταιρείας για τη δημιουργία εισροών σε μετρητά σε μακροπρόθεσμη βάση Αξιολόγηση λειτουργικότητας και αποτελεσματικότητας της εταιρείας και λειτουργική αναδιάρθρωση Παρουσίαση δεικτών απόδοσης της εταιρείας Μέτρα για τη βελτιστοποίηση των πωλήσεων και τη μείωση των εξόδων Θέματα που πρέπει να ληφθούν υπόψη, όπως κουλτούρα, υπάλληλοι, ανταγωνιστές, υποκατάστατα προϊόντων/υπηρεσιών Αξιολόγηση των συστημάτων πληροφορικής της εταιρείας και εκπαίδευση για αναδιάρθρωση του σχετικού τμήματος Εξέταση της υφιστάμενης κατάστασης του τμήματος πληροφορικής και πώς επηρεάζει την εταιρεία Ανάλυση των πιθανών σεναρίων για την αναδιάρθρωση του συγκεκριμένου τμήματος Μελέτες Περιπτώσεων για αφομοίωση των θεμάτων του σεμιναρίου Ασκήσεις που θα αφορούν στα θέματα που θα καλύψει το σεμινάριο Διαχωρισμός των συμμετεχόντων σε ομάδες 15

16 Restructuring

17 Λ Ε Π ΤΟ Μ E Ρ Ε Ι Ε Σ Σ Ε Μ Ι ΝΑΡIΟΥ Ημερομηνία: 22/11/2013 Τόπος: Γραφεία KPMG, Λευκωσία Ώρα: 8:30 π.μ - 3:30 μ.μ Κόστος: Φ.Π.Α. Kαθαρό κόστος μετά τη χορηγία της ΑΝΑΔ 114: 216,40 (συμπεριλ. Φ.Π.Α.) για τους δικαιούχους συμμετέχοντες Το ποσό της επιχορήγησης ενδέχεται να αλλάξει αναλόγως του μεγέθους της επιχείρησης. Γλώσσα: Ελληνική Εισηγητές: Χ. Αναγιωτός, Μ. Λοϊζίδης, Π. Γεωργίου Πρακτικά Παραδείγματα για την Εξασφάλιση και Αποπληρωμή Χρεών: Διορισμός Παραλήπτη/Διαχειριστή Το σεμινάριο αυτό μπορεί να συμβάλει στις προϋποθέσεις για Συνεχιζόμενη Επαγγελματική Ανάπτυξη. Η υφιστάμενη και παρατεταμένη έλλειψη ρευστότητας στην αγορά αποδυναμώνει επιχειρήσεις και αφαιρεί τη δυνατότητά τους να αποπληρώνουν τις υποχρεώσεις τους προς τους πιστωτές και χρηματοδότες. Ταυτόχρονα, τα χρηματοπιστωτικά ιδρύματα υπόκεινται σε αυστηρότερους ελέγχους και συνεχή παρακολούθηση. Η λήψη πιο δραστικών μέτρων για αποκατάσταση/αποπληρωμή των οφειλομένων σε πολλές περιπτώσεις μπορεί να αποτελεί μονόδρομο για τα χρηματοπιστωτικά ιδρύματα. Στόχοι Σεμιναρίου Στόχοι του προγράμματος είναι, με την ολοκλήρωση της κατάρτισης, οι συμμετέχοντες να γνωρίζουν: Διάφορα εργαλεία τα οποία μπορούν να χρησιμοποιούν οι πιστωτές για την είσπραξη χρεών Τα είδη εξασφαλίσεων και την προτεραιότητα πληρωμής Τη διαδικασία για το διορισμό Διαχειριστή/Παραλήπτη Τον ρόλο, ευθύνες του Διαχειριστή/ Παραλήπτη Πως να αναγνωρίζουν και να επιλύουν προβλήματα στη διαδικασία διαχείρισης/παραλαβής Μεθοδολογία Κατά τη διάρκεια αυτού του εκπαιδευτικού προγράμματος, θα παρουσιαστούν στους συμμετέχοντες πρακτικά παραδείγματα, θα ανταλλαγούν εμπειρίες και οι εκπαιδευόμενοι θα μάθουν μέσα από την ενεργό συμμετοχή τους και δράση. Το σεμινάριο θα συνδυάσει την επεξήγηση θεωρίας με τις σχετικές νομοθεσίες. Συμμετέχοντες* Λειτουργοί και Υπεύθυνοι τμημάτων ανακτήσεων χρεών και χορηγήσεων δανείων, μέλη επιτροπών δανεισμού και άτομα τα οποία υπάγονται σε τμήματα διαχείρισης κινδύνων Χρηματοπιστωτικών Ιδρυμάτων (Τράπεζες, ΣΠΕ και Ασφαλιστικές Εταιρείες). Λογιστές, δικηγόροι και νομικοί σύμβουλοι. Περιεχόμενο Σεμιναρίου Παρουσίαση της άσκησης (case study) η οποία θα χρησιμοποιηθεί κατά τη διάρκεια του σεμιναρίου για περιπτωσιολογική εξέταση. Πότε μια εταιρεία είναι αφερέγγυα και πότε λαμβάνονται μέτρα για εξασφάλιση του χρέους και εφαρμογή εργαλείων προς αποπληρωμή: Πρακτική Εφαρμογή Κριτηρίου Αφερεγγυότητας Περιγραφή του νομικού πλαισίου σχετικά με τα εργαλεία για εξασφάλιση ή αποπληρωμή χρεών: νομοθετικές και συμβατικές πρόνοιες, δικαιώματα, υποχρεώσεις και προτεραιότες Πρακτική Εφαρμογή Περιγραφή του νομικού πλαισίου σχετικά με το διορισμό Παραλήπτη/ Διαχειριστή και τη διαδικασία διαχείρισης /παραλαβής Διαφορές μεταξύ Διαχειριστή/ Παραλήπτη και Εκκαθαριστή Διαδικασία διορισμού, Έκθεση περιουσιακών στοιχείων και υποχρεώσεων, υποχρεώσεις Διαχειριστή/Παραλήπτη, ευθύνες, εξουσίες. Υποβολή εκθέσεων Τερματισμός Προβλήματα κατά τη διεκπεραίωση καθηκόντων Πρακτική Εφαρμογή Ερωτήσεις και απαντήσεις Το πρόγραμμα εγκρίθηκε από την ΑνΑΔ. Οι επιχειρήσεις που συμμετέχουν με εργοδοτούμενούς τους, οι οποίοι ικανοποιούν τα κριτήρια της ΑνΑΔ, θα τύχουν της σχετικής επιχορήγησης. *Ο αριθμός των συμμετεχόντων είναι περιορισμένος σε

18 P R O G R A M D E TA I L S Date: 02-03/12/2013 Location: KPMG Offices, Nicosia Time: 8:30 a.m. - 4:45 p.m. Investment: VAT Net investment after subsidy from the HRDA of 266: 241,40 (including VAT) The subsidy may change according to the size of the company. The subsidy is provided only to all eligible participants. Language: English Directors: C. Anayiotos, C. Michaelides Valuation Τechniques Seminar This seminar may contribute to Continuing Professional Development requirements. The Valuations of companies are very important in the financial world. They drive share trading and corporate finance activity, including capital raising, mergers, acquisitions, demergers and disposals. This seminar is designed for individuals wishing to enhance their valuation knowledge. Course Objectives The purpose of this 2-day seminar is to: Analyse and practice a range of corporate valuation techniques, their appropriate application and their advantages and disadvantages. Include a number of simple exercises and case studies in order to: - help course participants to practice valuation techniques - illustrate that corporate valuation can involve a high degree of subjectivity Methodology The teaching methodology of this course combines formal theoretical instruction with frequent reference to market data, use of exercises and case studies. The course is intended to be practical and interactive, therefore the delegates are encouraged to ask questions. The techniques taught to delegates are intended to be of immediate practical use in their workplace. Participants* This seminar is a must for anyone involved in company valuation, including: Chief Executive Officers (CEOs), Chief Financial Officers (CFOs), Company owners, Financial controllers, Financial analysts and planners, Accountants, Corporate executives involved in Mergers and Acquisitions (M&A) activities Course Content Main Valuation Techniques Myths and truths about valuations The value proposition: valuation cycle Approaches to valuations: families of valuation methodologies, advantages and limitations in their use Relative valuation (valuation based on multiples) - Families of multiples (earnings multiples, price to book multiples, price to sales multiples) - Select market multiple (comparable company or comparable transaction multiples) - Define, describe, analyse and apply multiples Economic Method Choosing Discounted Cash Flow (DCF) models - Equity valuation vs Firm valuation Estimating discount rates Ke (Cost of Capital) using CAPM (Capital Asset Pricing Model) Levering and unlevering beta Weighted Average cost of capital Defining debt Estimating cash flows: historic figures, forecasting cycle and length of explicit period, inflation rates, terminal growth Optimizing capital structure Reference made to the benefits of debt, the cost of borrowing, tax shield scenarios, different debt instruments, implication and tools for analyzing capital structure Taxation Issues Pre-tax and post-tax issues. Which tax rate to use? How to deal with tax losses and deferred tax in valuations The value of synergy Analysis of the types of synergies that could be acquired. The sources of synergies and how they can be valued The value of control Levels of control - When will you pay a premium to take into account control? When will you account for a discount? Consider the control factor in publicly traded companies and private companies Analysis of the factors influencing Control Special Valuation Issues Brief overview of multi business valuation, cross border valuation, brand valuation, valuing loss making business and wrap up The programme has been approved by the HRDA. Enterprices participating with their employees who satisfy HRDA s criteria, are entitled to subsidy *The number of participants is restricted to

19 Trainers' CV Anayiotos Christophoros Board Member, KPMG Cyprus Christophoros is a Board Member of KPMG Limited and has over 12 years of experience in the field of Financial Advisory Services. He has been involved in valuations, mergers and acquisitions, financial modeling and restructuring projects for many public and private companies from different sectors. Through this wide hands-on experience, he has gained unique in-depth knowledge of the business dynamics in practical situations. He has completed numerous assignments, in many industry sectors including financial services, retail, real estate, manufacturing and tourism. Christophoros has a BSc in Economics (Accounting and Finance) from the London School of Economics, is a Member of the Institute of Chartered Accountants in England and Wales (FCA), and holds the Corporate Finance qualification (CFq) from the same Institute. He has presented a number of seminars on valuation, M & A and Financing Athanasiades Andreas Associate, KPMG Cyprus Andreas has over 18 years of industry experience working in New York, London and Cyprus. Using technology as the center point, he is helping organizations improve their operations by establishing a working environment that combines improved processes, modern technology and effective human capital. Among his clients are both small and large private enterprises as well as the public sector. In the past years, he has been the Project Manager or the principal consultant of several projects, including reengineering of organization s departments, strategic planning and preparation of efficiency studies. During the past 3 years he has also been involved in large Government projects that include the preparation of the strategy of Cyprus for e-inclusion, the Reduction of the Administrative Burden for Cyprus businesses and the introduction of technology in several public organizations. Andreas earned a BSc in Computer Science, an MBA in Finance and Operations Management and holds the Prince2, CISA and CGEIT certifications. 19

20 Trainers' CV Charalambous Harry Board Member, KPMG Cyprus Harry holds a BSc of Commerce in Accounting, Finance and Systems and he is a member of the Certified Public Accountants of Australia, the Institute of Certified Public Accountants of Cyprus and an affiliated member of the Institute of Chartered Accountants in England and Wales. He joined KPMG in 2005 starting his career as the Director of the Indirect Tax Department. He was promoted to the position of Partner in January His role as a Partner in the Indirect Tax Department in Cyprus has allowed him to offer services to clients in various industries and semi-governmental organisations, such as real estate, tourism, passenger and freight transport, telecommunication and international business in supplying goods and services. Prior to assuming responsibilities at the Indirect Tax Department, Harry worked as a Private Business Manager in KPMG Darwin, where he was involved in Financial Services work such as liaising with clients for tax planning and consulting for the preparation of Financial Statements and Reports. Later on, he joined Cyproman Services Ltd where he worked as a Senior Manager responsible for the International Business Sector and VAT issues. Christodoulides Ephie Supervising Senior, KPMG Cyprus Ephie holds a BA (Hons) in Finance, Accounting and Management from the University of Nottingham. She joined the Indirect Tax practice of KPMG (Cyprus) in July 2009, after working in the UK for several years. Ephie started her career in the Banking Sector, working first in the Tax Department of HSBC within the Asset Management division where she dealt with private clients Capital Gains Tax planning. She was then offered the opportunity to work in project management as second in command on a high-profile reorganisation of the Bank s share portfolios. When the project ended, Ephie worked in various departments before subsequently moving to Deloitte PCS Ltd to provide UK Personal Income Tax services to affluent clients including celebrities and well-known figures. During her time with the Indirect Tax Department of KPMG (Cyprus), Ephie has acquired knowledge in Cyprus and EU VAT matters both through her work on projects of a compliance and consulting nature and through structured training courses of the KPMG Tax Business School and other providers. She has also been involved in the training of new recruits and in presenting seminars to other colleagues and clients. Harry was also elected president of the VAT committee of ICPAC for a two year period from 2008 to 2010 and his duties included, among others, liaising with the VAT Commissioner and Minister of Finance. 20

21 Trainers' CV Efstathiou Argyro Senior Manager, KPMG Cyprus Argyro Efstathiou holds a BA Hons in Economics with specialization in Accounting and Finance, from the University of Manchester. She is a member of the Institute of Chartered Accountants in England and Wales (ICAEW) and of the Institute of Certified Public Accountants of Cyprus since Argyro has been working in KPMG s Assurance Department since 2002 and currently holds the position of Senior Manager. Her portfolio of clients includes, to name a few, Cyprus Trading Corporation Plc and Photos Photiades Group Limited. Argyro is also a member of the KPMG Cyprus IFRS desk, which provides support and advice on IFRS technical matters to both clients and staff. Georgiou Panayiota Senior Legal Advisor, KPMG Cyprus Panayiota is a Senior Legal Advisor specialising in corporate insolvency law, corporate liquidations, both compulsory and voluntary, receiverships and restructurings involving reconstruction and schemes of arrangements. Prior to joining KPMG, Panayiota was a practicing advocate. As a professional Advisor, Panayiota has been advising liquidators and receivers and has been involved in a number of assignments in relation to distressed companies operating in various industries. Panayiota holds an LL.B (Hons) and an LL.M in Commercial Law, from the University of Cardiff, Wales. Panayiota is a member of the Association for European Restructuring and Insolvency Specialists and has published a number of articles on corporate insolvency law matters. 21

22 Trainers' CV Grekas Michael Assistant manager, KPMG Cyprus Michael is a member of the Association of Chartered Certified Accountants, the Institute of Certified Public Accountants of Cyprus and holds a BA in Business Administration from the University of Kent. He joined KPMG in 2007 starting his career as a trainee auditor in the Audit Department. He joined the Indirect Tax Department in January 2013 and he was promoted to the position of assistant manager. During his time with the Audit Department, Michael gained versatile experience from the financial services sector, consumer products and real estate industries. He was also involved in the audit of governmental organizations such as Cyprus Post. Furthermore, Michael has been engaged in several due diligence projects. Michael participated in various trainings and seminars on Indirect Tax matters and worked on several VAT audits, compliance and advisory engagements across various industries. He intends to further expand his knowledge and professional experience in the VAT field and especially in the financial services sector. Kefalas Iacovos Senior Consultant, KPMG Cyprus Iacovos holds a BA (Hons) in Business Administration specializing in Accounting and Finance. In the last year of his bachelor degree, he conducted a dissertation on Carousel VAT Fraud. Iacovos is also a Certified Accounting Technician (CAT) and is currently a prospective member of the Association of Chartered Certified Accountants (ACCA). Iacovos joined KPMG in 2009, starting his career as a trainee of the Indirect Tax Department. He was promoted to the position of Senior Consultant in January In 2011, he attended a 3 day training in KPMG s Tax Business School in Berlin on Global Indirect Tax Services, and in 2013 he attended a 2 day training in KPMG s International Tax Business School in London on Global Indirect Tax interactive data extraction and analysis. Iacovos has worked on numerous VAT advisory projects, VAT audits, due diligence assignments and compliance engagements across various industries gaining extensive experience in the VAT field. He has also presented several internal VAT seminars for KPMG. 22

23 Trainers' CV Lazarou Marios Board Member, KPMG Cyprus Marios Lazarou is a Board Member and he is also the head of the Financial Risk Management department. He holds a BA, MBA and he is an Associate Chartered Accountant (ICAEW). He has experience in the implementation of various audit and advisory engagements such as external audit, internal audit, risk management, processes re-engineering, performance improvement, due diligence, financial risk management, compliance and regulation, Basel II and corporate governance in the financial services sector. During the last four years he has led numerous Basel II, risk management and governance projects in several banks and investment firms in Cyprus and abroad, such as Pillar 1 calculations, ICAAPs, etc. He has delivered training to executives of different supervisory authorities in the financial services sector and to executives and board members of many financial services firms in subjects relating to Basel II, corporate governance, and risk management. Loizides Michalis Board Member, KPMG Cyprus Michalis, a Board Member of KPMG Limited, has over 20 years of experience in the Audit and Advisory departments of KPMG, both in Cyprus and the UK. Michalis is the Service Line Leader of the Corporate Recovery Department, specialising in corporate liquidations, both compulsory and voluntary, receiverships and restructurings involving reconstruction and schemes of arrangements. Over the years, Michalis has undertaken several appointments as Liquidator or Receiver of distressed companies operating in various industries. Michalis holds a BA (Hons) in Economics (Accounting and Finance) from the Victoria University of Manchester, is a fellow Chartered Accountant of the Institute of Chartered Accountants of England and Wales, a member of the Cyprus Institute of Certified Public accountants and a member of the Association for European Restructuring and Insolvency Specialists. 23

24 Trainers' CV Michaelides Callia Senior Manager, KPMG Cyprus Callia was already a qualified member of ACCA when she joined KPMG Cyprus in Since then she has been involved in a number of Corporate Finance and Transaction Services projects including but not limited to valuations, financing advisory, M&A, contract assistance, due diligence, transaction structuring. She was promoted to Senior Manager in Her clients range from small private companies to bigger public companies from all industry sectors as well as governmental agencies/departments. Over the past 10 years at KPMG, Callia has been involved and managed a number of corporate finance projects. Callia has completed many valuation engagements of companies in various industries. Industries of expertise include among others: Real Estate, Financial services, Webhosting, Insurance, Education, Pharmaceutical, Travel and Leisure, Retail and Manufacturing, and the Utilities sector. Neocleous Eleni Senior Manager, KPMG Cyprus Eleni is a senior manager within KPMG s Financial Risk Management Department with experience in the areas of risk management, capital adequacy, liquidity management, governance and regulatory compliance. Her experience spans across the banking, investment and insurance industry. Since joining KPMG Cyprus in 2010, Eleni has acted as an advisor in a number of high profile engagements where she helped financial services firms to face the risks and challenges related to the economic crisis and to prepare for regulatory change. Before joining KPMG Cyprus, Eleni worked at KPMG UK where she advised international banks investment firms and insurers on her areas of specialization. She worked extensively with UK and international banks on the implementation of Basel II and on the FSA s liquidity requirements for Banks. She also assisted many Financial Services organizations on risk management and governance issues and has designed and implemented risk frameworks, policies and procedures. While working with KPMG UK, Eleni was seconded to the Financial Services Authority (FSA now Prudential Risk Authority) Supervision Division for a period of 9 months where she provided technical guidance to FSA supervisors and was involved in the Supervisory Review and Evaluation process (SREP) of the ICAAP under Pillar 2. 24

25 Trainers' CV Peleties Panayiotis Board Member, KPMG Limited Panayiotis A. Peleties holds a BA (Hons) in Accounting and Economics from Lancaster University in UK and he is an Associate member of the Institute of Chartered Accountants in England and Wales and of the Institute of Certified Public Accountants of Cyprus. He joined KPMG in 1993 and has been admitted to partnership in Panayiotis is an audit partner, specializing in servicing banking and other financial institutions. His audit portfolio includes big clients operating in the industries of tourism, construction and publication. Furthermore, he is the IFRS liaison partner of KPMG Cyprus and the Chairman of the IFRS desk of KPMG in Cyprus. Panayiotis has a vast experience in presenting IFRS and other technical seminars to the professional staff of KPMG, the clients of KPMG and others. Prodromou George Principal, KPMG Cyprus George Prodromou is a professional chartered accountant and a fellow member of the Association of Chartered Certified Accountants (UK) and member of the Institute of Certified Public Accountants of Cyprus (ICPAC). He is also an authorised internal auditor by the Cyprus Stock Exchange Commission following his successful completion of the relevant exams. He has worked with KPMG since 1997 and has been involved in the audit and advisory of a number of high profile companies. George has also been a member of the risk advisory department of the Firm. He is a member of the International Financial Reporting Standards Group of KPMG in Cyprus studying changes to the International Financial Reporting Standards and providing guidance relevant to their application through seminars and presentations. 25

26 Trainers' CV Tziortzis George Board Member, KPMG Cyprus George has over thirteen years of experience within the Information Technology arena, working both in the capacity of an advisor and as part of an internal support team. His focus is on helping organizations improve their IT environment from the technology, governance and control perspectives. George is experienced in the development and implementation of Risk Management, IT Governance and Information Security Management frameworks with a focus on improving performance and maintaining control. He has also managed and participated in engagements for the enhancement and automation of core business and technology processes aiming to reduce costs and achieve other critical business objectives. He has managed and delivered a number of Information Security and Internal Control compliance engagements in the USA, Switzerland, Cyprus and other countries. Furthermore, he has managed and participated in the development and establishment of Business Continuity and Disaster Recovery Plans and has acted as a core member of Global PMO Offices for the management of international engagements focusing on compliance and performance improvement. Vanezis Pangratios Principal, KPMG Cyprus Pangratios Vanezis graduated from Lancaster University with a BA in Accounting & Finance. He qualified as an Associate member of the Institute of Chartered Accountants in England and Wales in He has been working with KPMG Cyprus since 2003 where he gained his relevant experience. Pangratios is a Senior Manager in the audit services and has a versatile industry experience from the financial services sector, consumer products as well as more specialised sectors such as the airline transport industry and food and beverages. He is actively involved in a number of committees and groups within KPMG, namely the training group providing training and support within KPMG, and the International Financial Reporting Standards group providing insights, consultation and training on financial reporting issues both internally and externally. In addition, he has been involved in a number of engagements focusing on controls over financial reporting, compliance with the Basel II requirements and has delivered engagements utilizing the ISO27002 and CobiT standards. George has served as the acting Information Security Officer for a Swiss private bank and has participated in advisory engagements for a range of financial institutions including Citibank, Bankers Trust, HSBC, ING, Credit Swiss and Merrill Lynch. He holds the Prince2, CISA (Certified Information Systems Auditor) and CGEIT (Certified in the Governance of Enterprise IT) certifications. 26

27 Trainers' CV Voutouri Papadakis Kyriaki Supervisor, KPMG Cyprus Kyriaki holds a BSc in Public and Business Administration from the University of Cyprus. She has obtained her professional qualification from the Association of Chartered Certified Accountants in 2011 where she also achieved 3rd place amongst ACCA Affiliates in Cyprus. Kyriaki is also a member of the Institute of Certified Public Accountants of Cyprus since Kyriaki initially joined BDO Ltd in 2008 starting her career as a trainee Tax Consultant in the Direct Tax Department. She joined the Indirect Tax Department of KPMG in April Kyriaki has worked on several VAT Audits, VAT Advisory, Due Diligence and Compliance engagements across various industries gaining extensive experience in the VAT field. Kyriaki has attended Indirect Tax seminars organized by ICPAC and KPMG International. She has also delivered Indirect Tax seminars to KPMG staff and clients. Kyriaki is a member of the VAT committee of ICPAC for