Grasp knowledge in your hands KPMG ACADEMY

Grasp knowledge in your hands KPMG ACADEMY Second Semester 2016

Foreword The Academy collaborates with experts from the KPMG s network, professionals from other successful companies and academics from both Cyprus and abroad. Most of our Trainers have been certified by the Human Resource Development Authority (HRDA) as Trainers of Vocational Training. We organize in-house/open training programs and international conferences, addressing a wide range of areas such as technical and financial matters as well as essential professional skills. 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 6000 professionals across all industries in Cyprus and organized 7 international conferences on Leadership, Taxation, Tourism, Anti-Money Laundering, EMIR, MiFIR, MiFID II and Crowdfunding 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 adjusted 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 our team's composite daily rates which represent a significant discount on our standard rates. This brochure provides an overview of our open HRDA approved courses for this semester and valuable information on seminars that shall keep you up to date and enhance your business performance. The outlines of additional open non HRDA approved seminars will be sent to our contacts throughout this semester. For the period of September-December 2016, we offer a selection of 8 open seminars which reflect current market needs and training priorities. All seminars which are included in this brochure, have been approved by the 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 and in-house training courses, please, do not hesitate to contact Persa Papademetriou, KPMG Academy manager. 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

A. KPMG Academy Seminars By Seminar category The seminars below may also be organized as in-house training programs. TAXATION 1. Βασικές Αρχές σε Θέματα ΦΠΑ 8 2. Tax Updates and New Developments 9 3. Πρόσφατες Τροποποιήσεις στην περί Φ.Π.Α. Νομοθεσία 10 FINANCIAL RISK MANAGEMENT 4. AML Regulations and Updates 12 IFRS AND ACCOUNTING 5. IFRS 15 Revenue Recognition 14 6. IFRS Updates and Advanced Applications 15 7. New and Revised International Standards on Auditing (ISAS) 16 RESTRUCTURING 8. Φορολογικές Πρόνοιες και Λογιστική Μεταχείριση αναφορικά με τις Αναδιαρθρώσεις Τραπεζικών Δανείων, τις Κατασχέσεις και τις Καταναγκαστικές Πωλήσεις 18 PAGE 4

B. KPMG Academy Seminars By Seminar date TITLE DATE PRICE PRICE HRDA NET COST TEACHING LANGUAGE Including VAT SUBSIDY Including VAT HOURS ΒΑΣΙΚΕΣ ΑΡΧΕΣ ΣΕ ΘΕΜΑΤΑ ΦΠΑ 27/9/2016 327 389,13 119 270,13 7hr Greek ΦΟΡΟΛΟΓΙΚΕΣ ΠΡΟΝΟΙΕΣ ΚΑΙ ΛΟΓΙΣΤΙΚΗ ΜΕΤΑΧΕΙΡΙΣΗ ΑΝΑΦΟΡΙΚΑ ΜΕ ΤΙΣ ΑΝΑΔΙΑΡΘΡΩΣΕΙΣ ΤΡΑΠΕΖΙΚΩΝ ΔΑΝΕΙΩΝ, ΤΙΣ ΚΑΤΑΣΧΕΣΕΙΣ ΚΑΙ ΤΙΣ ΚΑΤΑΝΑΓΚΑΣΤΙΚΕΣ ΠΩΛΗΣΕΙΣ 7/10/2016 294 349,83 102 247,86 6hr Greek IFRS UPDATES AND ADVANCED APPLICATIONS 11/10/2016 327 389,13 119 270,13 7hr English NEW AND REVISED INTERNATIONAL STANDARDS ON AUDITING (ISAs) 18/10/2016 327 389,13 119 270,13 7hr English AML REGULATIONS AND UPDATES 15/11/2016 294 349,86 102 247,86 6hr English IFRS 15 REVENUE RECOGNITION 22/11/2016 294 349,86 102 247,86 6hr English ΠΡΟΣΦΑΤΕΣ ΤΡΟΠΟΠΟΙΗΣΕΙΣ ΣΤΗΝ ΠΕΡΙ Φ.Π.Α. ΝΟΜΟΘΕΣΙΑ 25/11/2016 318,50 379,02 110,50 268,52 6,5hr Greek TAX UPDATES AND NEW DEVELOPMENTS 6/12/2016 294 349,86 102 247,86 6hr English 5

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 115-01-479914-01 Swift Code: HEBA CY2N IBAN: CY94005001150001150147991401 Cheque: The cheque should be sent to Persa Papademetriou and issued to KPMG Ltd. Please ensure that you send a copy of all payment-related documents and the bank transfer slip by fax: 22 513 294 to the attention of Persa Papademetriou. Information: For further information you may contact Persa Papademetriou: T: +357 22 209 053 F: +357 22 513 294 E: ppapademetriou@kpmg.com W: www.kpmg.com.cy Addresses: KPMG Limited 14 Esperidon Street 1087 Nicosia Cyprus KPMG Limited 11, 16th June 1943 Street 3022, Limassol 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 28. You may submit your registration form by fax: 22513294 or email: 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

Taxation

Λεπτομέρειες Σεμιναρίου Ημερομηνία: 27/09/2016 Τόπος: Γραφεία KPMG, Λευκωσία Ώρα: 8:30 π.μ. - 4:45 μ.μ. Διάρκεια: 7 ώρες Κόστος: 327 + Φ.Π.Α. Καθαρό κόστος μετά τη χορηγία της ΑΝΑΔ 119: 270,13 (συμπεριλ. Φ.Π.Α.) για τους δικαιούχους συμμετέχοντες Γλώσσα: Ελληνική Εισηγητές: Χ. Χαραλάμπους, Μ. Γρέκας, Ε. Γεωργίου, Φ. Γεωργίου Βασικές Αρχές σε Θέματα Φ.Π.Α. Το σεμινάριο αυτό μπορεί να συμβάλει στις προϋποθέσεις για Συνεχιζόμενη Επαγγελματική Ανάπτυξη. Σκοπός του σεμιναρίου είναι να προσφέρει επαρκείς γνώσεις στους συμμετέχοντες για τις αρχές της Κυπριακής νομοθεσίας περί Φ.Π.Α. Οι συμμετέχοντες θα εκπαιδευτούν όχι μόνο θεωρητικά αλλά και πρακτικά σχετικά με τη νομοθεσία του Φ.Π.Α. όπως επίσης και για τη σωστή φορολογική μεταχείριση των συναλλαγών τις οποίες διεκπεραιώνουν στο εργασιακό τους περιβάλλον, αποφεύγοντας τυχόν κυρώσεις που μπορεί να προκύψουν. Στόχος Σεμιναρίου Στόχος του σεμιναρίου είναι: Επεξήγηση των βασικών εννοιών της Κυπριακής περί Φ.Π.Α. Νομοθεσίας Ενημέρωση για αλλαγές στην Κυπριακή περί Φ.Π.Α. Νομοθεσία Απόκτηση επαρκών γνώσεων Φ.Π.Α. οι οποίες θα βοηθήσουν τους συμμετέχοντες να προχωρήσουν με αναγκαίες τροποποιήσεις ώστε να συμμορφωθούν με τη νομοθεσία. Μεθοδολογία Κατά πρόσωπο διάλεξη. Θα δοθούν πραγματικά παραδείγματα από την κυπριακή αγορά και ασκήσεις. Επίσης, οι εκπαιδευόμενοι θα έχουν την ευκαιρία να εκφράσουν τις δικές τους εμπειρίες και ως εκ τούτου, να μάθουν μέσα από την ενεργό συμμετοχή τους και δράση. Συμμετέχοντες* Οικονομικοί διευθυντές, αρχιλογιστές, λογιστές, και επιστημονικό προσωπικό το οποίο εφαρμόζει στην πράξη τις πρόνοιες της Κυπριακής Νομοθεσίας Φ.Π.Α. ή/και είναι υπεύθυνο για τους φορολογικούς χειρισμούς της εταιρείας. Αξιολόγηση Οι απαντήσεις των συμμετεχόντων στις ασκήσεις αλλά και κατά τη διάρκεια συζήτησης θα αξιολογούνται από τον/τους εκπαιδευτή/ές. Στο τέλος του εκπαιδευτικού αυτού προγράμματος θα μοιραστούν στους συμμετέχοντες ερωτηματολόγια σε έντυπη μορφή με τακτική κλίμακα μέτρησης, με τα οποία θα αξιολογηθεί ο εκπαιδευτής, το εκπαιδευτικό πρόγραμμα και το σεμινάριο. Περιεχόμενο Σεμιναρίου Εισαγωγή Βασικές Αρχές Φ.Π.Α. (30 λεπτά) Ιστορική αναφορά Πως λειτουργεί ο Φ.Π.Α. Φορολογικοί συντελεστές Παραρτήματα της Κυπριακής περί Φ.Π.Α. νομοθεσίας Ορολογία η οποία χρησιμοποιείται για σκοπούς Φ.Π.Α. Μηχανισμός της αντίστροφης χρέωσης Ανάλυση των Εισοδηματικών Πηγών της Εταιρείας Υπηρεσίες (1 ώρα & 30 λεπτά) Ιθύνουσες εταιρείες Εταιρείες οι οποίες παρέχουν δάνεια και υπηρεσίες οι οποίες φέρουν τόκο Συμβουλευτικές υπηρεσίες Υπηρεσίες διαχείρισης Εξαιρέσεις του βασικού κανόνα Ανάλυση των Εισοδηματικών πηγών της Εταιρείας Αγαθά Επεξήγηση του βασικού κανόνα Τριγωνικές συναλλαγές Φορολογικός Χειρισμός των Εξόδων της Εταιρείας Εγχώρια Έξοδα (1 ώρα & 30 λεπτά) Φόρος εισροών Έξοδα ψυχαγωγίας Έξοδα για τα αυτοκίνητα τύπου saloon Δώρα Φορολογικός Χειρισμός των Εξόδων της Εταιρείας - Απόκτηση Αγαθών ή Υπηρεσιών από το Εξωτερικό (2 ώρες) Όρια εγγραφής για σκοπούς Φ.Π.Α. Μέθοδος της αντίστροφης χρέωσης και της διπλής απόσπασης (double posting) Εξαιρούμενες συναλλαγές Φορολογικός χειρισμός των εξόδων των ιθυνουσών εταιρειών Φορολογικός χειρισμός για την απόκτηση αγαθών Φορολογικές Δηλώσεις (30 λεπτά) Εξοικείωση με τις Φορολογικές Δηλώσεις των πελατών Δήλωση VIES Δήλωση Intrastat Τιμολόγια Φ.Π.Α. (30 λεπτά) Τι πληροφορίες χρειάζεται να έχουν τα τιμολόγια Τιμολόγια λιανοπωλητών Παραδείγματα τιμολογίων Απαλλαγή Επισφαλών Χρεών (15 λεπτά) Διαδικασία για την απαλλαγή Επισφαλών Χρεών Παράδειγμα επιστολής για τους Επισφαλείς Χρεώστες Επιστροφή Φ.Π.Α. από Xώρες της Ε.Ε. μέσο της Όγδοης Οδηγίας Χρεών (15 λεπτά) Διαδικασία για την επιστροφή Φ.Π.Α. από χώρες της Ε.Ε. 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 28. 8

Program Details Date: 6/12/2016 Location: KPMG Offices, Nicosia Time: 8:30 a.m. - 3:30 p.m. Duration: 6hr Investment: 294 + VAT. Net investment after subsidy from the HRDA of 102: 247,86 (including VAT) for all eligible participants Language: English Directors: K. Papanicolaou, S. Stylianou, A. Panayiotou Tax Updates and New Developments 2015 and 2016 This seminar may contribute to Continuing Professional Development requirements. This seminar is designed for participants who desire an update on Tax changes and developments which occurred over the past or present year. It will present, through practical examples, the Tax Circulars whilst it will also cover expected changes. The main trainer of this seminar is a Board Member of the Direct Tax department of KPMG Cyprus who will share with the participants her experiences in dealing with important tax issues. Professionals need to be informed of the recent or upcoming Tax changes for compliance purposes and for the preparation of their company s tax return in accordance with Tax Laws and relevant Tax Circulars. Course Objectives This seminar aims to: Enlighten the participants on recent Tax changes through the description of the legislation along with examples. Inform the participants of the risks that may arise from the erroneous application of the Tax legislation, and provide them with an outline of the proper way of handling the tax affairs of their company. Assist attendees in handling their tax compliance tasks (e.g. meeting various deadlines regarding tax payments and submission of tax forms). Methodology The course is intended to be practical and interactive, hence the participants will be encouraged to put forward any inquiries that they may have. The knowledge to be obtained from this course is intended to be of immediate practical use in their workplace. Participants* CEO s, CFO s, Accountants, Auditors and Tax Consultants. Evaluation There will be a discussion between the trainers and the participants regarding the examples/ exercises. Additionally, the Academy s hard copy Likert scale questionnaire for the evaluation of the course as well as the trainer will be given at the end of the seminar to the participants. Course Content Corporate Income Tax Updates 2015 and 2016 (2hr) Changes/Amendments in Legislation (e.g. explanation of changes with regards to new definitions in the law, such as NID, tax incentive schemes, loan restructuring provisions, issues faced during tax examination) New tax circulars Other considerations Expected developments Special contribution for defense Updates 2015 and 2016 (1hr & 30min) Changes/Amendments in Legislation (e.g. explanation of changes with regards to new definitions in the law, such as domicile, loan restructuring provisions, issues faced during tax examination) New tax circulars Other considerations Expected developments Assessment and Collection of Taxes Law Updates 2015 and 2016 (30min) Changes/Amendments in Legislation New tax circulars Other considerations Expected developments Capital Gains Tax Law Updates 2015 and 2016 (30min) Changes/Amendments in Legislation (e.g. explanation of changes with regards to loan restructuring provisions) New tax circulars Other considerations Expected developments Immovable Property Tax Updates 2015 and 2016 (30min) Changes/Amendments in Legislation (e.g explanation of changes in computing immovable property tax) New tax circulars Other considerations Expected developments New Double Tax Treaties which came into Force (1hr) 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. 9

Λεπτομέρειες Σεμιναρίου Ημερομηνία: 25/11/2016 Τόπος: Γραφεία KPMG, Λευκωσία Ώρα: 8:30 π.μ. - 4:15 μ.μ. Διάρκεια: 6 ώρες και 30 λεπτά Κόστος: 318,50 + Φ.Π.Α. Καθαρό κόστος μετά τη χορηγία της ΑΝΑΔ 110,50: 268,52 (συμπεριλ. Φ.Π.Α.) για τους δικαιούχους συμμετέχοντες Γλώσσα: Ελληνική Εισηγητές: Χ. Χαραλάμπους, Μ. Γρέκας, Ε. Λαγού Πρόσφατες Τροποποιήσεις στην περί Κυπριακή Φ.Π.Α. Νομοθεσία Το σεμινάριο αυτό μπορεί να συμβάλει στις προϋποθέσεις για Συνεχιζόμενη Επαγγελματική Ανάπτυξη. Ο σκοπός αυτού του εκπαιδευτικού σεμιναρίου είναι να ενημερώσει τους συμμετέχοντες για τις αλλαγές που έχουν τεθεί σε ισχύ κατά τα έτη 2015 & 2016 όπως επίσης και για τις προτεινόμενες τροποποιήσεις που ενδέχεται να προκύψουν κατά το δεύτερο εξάμηνο του 2016 στην Κυπριακή περί ΦΠΑ νομοθεσία. Το πρόγραμμα είναι πλήρως επικαιροποιημένο με τις τελευταίες εξελίξεις στη φορολογική νομοθεσία και εμπλουτισμένο με τις πρόσφατες αποφάσεις του Ευρωπαϊκού Δικαστηρίου και τις σχετικές ερμηνευτικές εγκυκλίους που εκδίδονται από το Τμήμα Φορολογίας. Στόχος Σεμιναρίου Στόχος του σεμιναρίου είναι: Η επεξήγηση και ανάλυση τόσο των αλλαγών οι οποίες έχουν επέλθει στην περί Φ.Π.Α. νομοθεσία όσο και των ερμηνευτικών εγκυκλίων που έχουν εκδοθεί από την Υπηρεσία Φ.Π.Α. για τις εν λόγω αλλαγές Ανάλυση του τρόπου που οι εν λόγω αλλαγές επηρεάζουν τα υποκείμενα στο φόρο πρόσωπα. Απόκτηση επαρκών γνώσεων για τον Φ.Π.Α. οι οποίες θα βοηθήσουν τους συμμετέχοντες στην καλύτερη διεξαγωγή των εργασιών τους Ενδελεχής επεξήγηση των όσων θα καλυφτούν στο σεμινάριο μέσω παραδειγμάτων. Επίλυση καθημερινών προβλημάτων Μεθοδολογία Κατά τη διάρκεια αυτού του εκπαιδευτικού προγράμματος, θα παρουσιαστούν στους συμμετέχοντες πρακτικά παραδείγματα και οι εκπαιδευόμενοι θα μάθουν μέσα από την ενεργό συμμετοχή τους και δράση. Οι εκπαιδευτές θα δέχονται ερωτήσεις κατά τη διάρκεια του σεμιναρίου ώστε να διευκρινιστούν όλα τα θέματα που απασχολούν τους συμμετέχοντες. Συμμετέχοντες* Οικονομικοί Διευθυντές, Αρχιλογιστές, Λογιστές, Βοηθοί Λογιστηρίου και Εργαζόμενοι Επιχειρήσεων οι οποίοι εφαρμόζουν στην πράξη τις πρόνοιες της Κυπριακής Νομοθεσίας Φ.Π.Α. Αξιολόγηση Στο τέλος του εκπαιδευτικού αυτού προγράμματος θα μοιραστούν στους συμμετέχοντες ερωτηματολόγια σε έντυπη μορφή με τακτική κλίμακα μέτρησης, με τα οποία θα αξιολογηθεί ο εκπαιδευτής, το εκπαιδευτικό πρόγραμμα και το σεμινάριο Περιεχόμενο Σεμιναρίου Μειωμένος συντελεστής Φ.Π.Α. 5% για ανακαίνιση ιδιωτικών κατοικιών (1 ώρα) Στη συγκεκριμένη εγκύκλιο, έχουν προστεθεί καινούργιες υπηρεσίες που εμπίπτουν στον μειωμένο συντελεστή ΦΠΑ 5%. Οι εκπαιδευτές της KPMG θα επεξηγήσουν τις αλλαγές στη συγκεκριμένη εγκύκλιο βασιζόμενοι στις εξειδικευμένες γνώσεις που αποκτούν μέσω των φορολογικών υπηρεσιών που προσφέρουν σε πελάτες της KPMG. Τρόφημα (30 λεπτά) Η Υπηρεσία Φ.Π.Α. έχει εκδώσει ερμηνευτική εγκύκλιο με την οποία διευκρινίζει στα υφπ την ορθή φορολογική μεταχείριση για τα ακόλουθα 1) καθημερινό περίσσευμα φαγητών 2) δωρεάν παροχή φαγητών 3) παροχή φαγητού χωρίς αντιπαροχή. Οι εκπαιδευτές, σε αυτήν την ενότητα, θα αναφερθούν επίσης στο γεγονός ότι οι πρόνοιες προηγούμενων εγκυκλίων αποσύρονται. Αμοιβαία Κεφάλαια (1 ώρα) Οι συμμετέχοντες σε αυτήν την ενότητα θα μάθουν τι είναι τα αμοιβαία κεφάλαια και ποια είναι η ορθή φορολογική μεταχείριση τους. Εκπαιδευτικές Υπηρεσίες (30 λεπτά) Σε αυτήν την ενότητα οι εκπαιδευτές θα αναφερθούν στη συγκεκριμένη συμπληρωματική ερμηνευτική εγκύκλιο που ξεκαθαρίζει ποιες εκπαιδευτικές υπηρεσίες είναι εξαιρούμενες για σκοπούς ΦΠΑ και ποιες είναι φορολογητέες. Επισφαλείς Χρεώστες (30 λεπτά) Οι συμμετέχοντες, σε αυτήν την ενότητα θα έχουν την ευκαιρία να ενημερωθούν για τη συμπληρωματική διευκρινιστική εγκύκλιο που αφορά στους επισφαλείς χρεώστες και για τα στάδια που θα πρέπει να ακολουθούνται για τη διεκδίκηση των εν λόγω ποσών. Πιο συγκεκριμένα θα έχουν την ευκαιρία να μάθουν για τις προϋποθέσεις ενεργοποίησης του μηχανισμού απαλλαγής από επισφαλή χρέη τις οποίες επιβεβαιώνει η ερμηνευτική εγκύκλιος (ΕΕ 201) αλλά και τις σημαντικές νέες διευκρινήσεις τις οποίες εισάγει η ΕΕ 201. Προτεινόμενα νομοσχέδια (3 ώρες) Φορολόγηση οικοδομήσιμης γης καθώς και μετοχών εταιρειών που κατέχουν γη και κτίρια στα πλαίσια εξάσκησης οικονομικής δραστηριότητας Εφαρμογή της μεθόδου της αντίστροφης χρέωσης από τους δανειστές στα πλαίσια αναδιάρθρωσης ή κατάσχεσης ακίνητης ιδιοκτησίας που υπόκειται στο Φ.Π.Α. Κανονισμοί για κατάσχεση ακίνητης ιδιοκτησίας προς εξόφληση οφειλόμενου Φ.Π.Α. Τροποποίηση της εγκυκλίου 151 σε σχέση με υπηρεσίες μη εκτελεστικών διευθυντών Επέκταση του σχεδίου περιθωρίου οργανωτών τουριστικών περιηγήσεων για να καλύπτει συναλλαγές μεταξύ υποκειμένων στο φόρο προσώπων Προτεινόμενες τροποποιήσεις της εγκυκλίου 201 Επισφαλείς χρεώστες Εγκύκλιος 202 Ασφαλιστικές υπηρεσίες 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 28. 10

Financial Risk Management

Program Details Date: 15/11/2016 Location: KPMG Offices, Nicosia Time: 8:30 a.m. - 3:30 p.m. Duration: 6hr Investment: 294 + VAT Net investment after subsidy from the HRDA of 102: 247,86 (including VAT) for all eligible participants participants Language: English Directors: E. Neocleous, E. Poyiadji AML Regulations and Updates This seminar may contribute to Continuing Professional Development requirements. Money Laundering issues have been subject to increased regulatory scrutiny as of 2013 creating numerous challenges mainly to newly regulated entities. This seminar, shall assist participants in overcoming these challenges by understanding various mechanisms through which money can be laundered and by learning how they may comply with the changes that have been made to the regulatory framework/requirements. It will focus on the Anti-Money Laundering and Terrorism Financing legislation, industry practices and the Regulators approach regarding supervision. Course Objectives By the end of the seminar participants will: Familiarize themselves with the main provisions of the Prevention and Suppression of the Money Laundering Activities Law and the Directive 144-2007-08 for the Prevention of Money Laundering and Terrorist Financing Understand the supervisory process and their responsibilities deriving from the regulatory framework Be able to define the due diligence procedures and the monitoring activity required to be performed Clarify how a risk-based approach can be achieved Understand the design and will be able to implement procedures and systems that are required for the monitoring and prevention of money-laundering Understand the changes that have been made to the regulatory framework/ requirements as well as how they may comply to these changes Methodology The teaching methodology combines formal theoretical instruction with reference to real-life examples. The course is intended to be practical and interactive hence the participants are encouraged to ask questions. The knowledge obtained during the course is intended to be of immediate practical use in the workplace. Hard copies of the power-point presentation will be distributed to the participants. Participants* The seminar will mainly cover CySEC s regulatory framework and requirements. Therefore, relevant participants from entities such as Cyprus Investment Firms and Administrative Service Providers which fall under the CySEC s supervision will benefit by attending this course. Professionals of Fiduciary Companies, who are Members of the Cyprus Bar Association and/ or ICPAC, may also attend. More specifically, this seminar is suitable (among other relevant positions) for Compliance Officers, Corporate Officers, Corporate Administrators, Head Administrators, CEOs, Directors and Managers, Assistant Managers, Internal Auditors, Accountants who are involved in AML matters as well as Lawyers/Legal Advisors. Evaluation There will be a discussion between the trainers and the participants regarding the examples/ exercises. Additionally, the Academy s hard copy Likert scale questionnaire for the evaluation of the course as well as the trainer will be given at the end of the seminar to the participants. Course Content Introduction on AML (30min) What Money Laundering is The importance of AML Regulatory reference and definition AML Governance Requirements (30min) General Governance Requirements Roles and responsibilities of the BOD, the MLCO and the Internal Auditor Risk Based Approach (1hr) Identifying, assessing and monitoring risks Areas of risk such as client, jurisdiction, product and distribution network Client risk categorization Types of high risk clients Due Diligence Procedures based on risk Customer Identification and Due Diligence (CDD) procedures (1hr & 30min) Explaining CDD Constructing the customer s business / economic profile CDD documentation Enhanced CDD procedures / documentation Relying on third parties for customer identification Ongoing Monitoring (1hr & 30min) Explaining ongoing monitoring Maintaining updated CDD documentation / information Transactions monitoring Cash transactions Reporting suspicious activity Other AML Requirements (30min) Identifying the training needs and preparing a training plan Record keeping Changes to Regulatory Framework (30min) The impact of forthcoming changes Areas on which the Authorities are expected to focus 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. 12

IFRS and Accounting

Program Details Date: 22/11/2016 Location: KPMG Offices, Nicosia Time: 8:30 a.m. - 3:30 p.m. Duration: 6hr Investment: 294 + VAT Net investment after subsidy from the HRDA of 119: 247,86 (including VAT) for all eligible participants Language: English Directors: M. Karantoni, A. Efstathiou IFRS 15 Revenue Recognition This seminar may contribute to Continuing Professional Development requirements. Following several requests from KPMG s clients, the Academy has decided to offer this seminar as a comprehensive overview of the new Revenue Recognition framework. IFRS 15, the new standard on revenue recognition, is applicable for accounting periods beginning on or after 1 January 2018. The changes introduced by this new standard will have a significant impact on the revenue recognition of various companies, therefore, the financial management teams should be able to identify the changes and take the necessary actions to be able to comply with the requirements of the standard. Course Objectives This seminar aims to update the participants on the following: Core elements of the new five-step revenue recognition model Changes to the existing revenue recognition framework Types of transactions that are likely to be significantly affected Key presentation and disclosure requirements Transitional requirements. Methodology The teaching methodology combines formal theoretical instruction with reference to examples. The course is intended to be practical and interactive hence the participants are encouraged to ask questions. The knowledge obtained during the course is intended to be of immediate practical use in the workplace. Hard copies of the power-point presentation will be distributed to the participants. Participants* This seminar is essential for Financial Controllers, Finance Managers, Finance Directors, Accountants and Auditors who wish to be informed on the requirements of IFRS 15 Revenue Recognition. Evaluation The Academy s questionnaire for the evaluation of the content of the course and the trainers will be given at the end of the course to the participants. There will also be a discussion between the trainers and the participants regarding the participants answers to the questions of the exercises. Course Content Five-step model (1hr & 30min) Outline the scope of IFRS 15 Describe of the new five-step revenue recognition model Identify the changes to the existing revenue framework Practical Application Guidance (3hr) Types of transactions that are likely to be significantly affected Apply the principles of the five-step model to specific transactions Challenges that entities in specific industries might face Practical examples for specific industries Presentation and disclosure requirements (15min) Outline the key presentation and disclosure requirements Transition (1hr & 15min) Outline the importance of the transition decision Explain the transition options Practical differences between the transition options Assist participants in understanding the range of factors that need to be considered when selecting the transition option. 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. 14

Program Details Date: 11/10/2016 Location: KPMG Offices, Nicosia Time: 9:00 a.m. - 5:30 p.m. Duration: 7hr Investment: 327 + VAT Net investment after subsidy from the HRDA of 119: 270,13 (including VAT) for all eligible participants Language: English Directors: Z, Hadjizacharias, M. Karantoni, G. Prodromou, N. Theodorou IFRS Updates and Advanced Applications This seminar may contribute to Continuing Professional Development requirements. The Academy offers a seminar on IFRS Updates and Advanced Applications in an effort to keep its clients informed on IFRS issues and assist them in meeting their yearly CPD requirements. New IFRSs have been issued and existing IFRSs have been amended in order to provide additional guidance on topics that are considered important for the preparation of financial statements. The major objective of this seminar is to provide participants with an update on new, revised, amended and forthcoming International Financial Reporting Standards. Past seminars on IFRS Updates received positive reviews from attendees for both their content and the practical knowledge of the presenters. Course Objectives This seminar aims to update the participants on the following: IFRS Amendments effective as of 2016 Initial Considerations and Transition Options of IFRS 15 Revenue IFRS 16 Leases Overview Application of IFRS 9 Financial instruments in the non-financial sector. Methodology The teaching methodology combines formal theoretical instruction with reference to examples. The course is intended to be practical and interactive hence the participants are encouraged to ask questions. The knowledge obtained during the course is intended to be of immediate practical use in the workplace. Hard copies of the power-point presentation will be distributed to the participants. Participants* This seminar is essential for Financial Controllers, Finance Managers, Finance Directors, Accountants and Auditors who wish to be informed on the latest IFRS developments. Evaluation The Academy s questionnaire for the evaluation of the content of the course and the trainers will be given at the end of the course to the participants. There will also be a discussion between the trainers and the participants regarding the participants answers to the questions of the exercises. Course Content IFRS Amendments effective as on 2016 (1hr & 15min) Annual improvements to IFRSs 2012-2014 Cycle Consolidation suite of standards Disclosure initiative IFRS 15 Revenue: Initial Considerations and Transition Options (1hr & 30min) Transition Options How the Options Affect the Accounting Additional Factors to Consider IFRS 16 Leases: Overview (1hr & 15min) Major impacts for lessees New definition, new accounting Multiple transition options Key differences between IFRS and U.S. GAAP Next steps IFRS 9: Non-Financial Sector (2hr & 30min) Criteria for the classification of financial assets, including trade receivables and investments New impairment model for financial assets Presentation and disclosures Effective date and transition Questions (30min) 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. 15

Program Details Date: 18/10/2016 Location: KPMG Offices, Nicosia Time: 8:30 a.m. - 4:45 p.m. Duration: 7hr Investment: 327 + VAT Net investment after subsidy from the HRDA of 119: 270,13 (including VAT) for all eligible participants Language: English Directors: J. Nicolaou New and Revised International Standards on Auditing (ISAS) This seminar may contribute to Continuing Professional Development requirements. The Academy is pleased to introduce a seminar on International Standards on Auditing (ISA) in an effort to update audit professionals about recent changes in audit methodology as well as inform them of a new standard. A new ISA has been issued and existing ISAs have been revised in order to provide additional guidance on topics that are considered important for audit professionals and accountants. This knowledge, which will be provided by an Audit Board Member of KPMG who deals with ISAs on a daily basis, will assist auditors in applying the new and revised ISAs in their workplace. Course Objectives This seminar aims to update the participants on the following: ISA 700 Forming an Opinion and Reporting on Financial Statements ISA 701 Communicating Key Audit Matters in the independent Auditor s Reports ISA 260 Communication with those Charged with Governance ISA 570 Going Concern ISA 705 Modifications in the Opinions in the independent Audit s Report ISA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the independent Auditor s Report ISA 720 Other information Methodology The teaching methodology combines formal theoretical instruction with reference to examples. The course is intended to be practical and interactive, hence, the participants are encouraged to ask questions. The knowledge obtained during the course is intended to be of immediate practical use in the workplace. Hard copies of the power-point presentation will be distributed to the participants. Participants* This seminar is essential for audit professionals or accountants who wish to be informed on the latest ISA developments. Evaluation The Academy s questionnaire for the evaluation of the content of the course and the trainers will be given at the end of the course to the participants. There will also be a discussion between the trainers and the participants regarding the participants answers to the questions of the exercises. Course Content Introduction (20min) Session s objectives Highlight of changes in audit methodology ISA 700 Forming an Opinion and Reporting on Financial Statements (40min) Form of opinion and recent changes Auditor s Report Supplementary information presented with the financial statements ISA 701 Communicating Key Audit Matters in the Independent Auditor s Reports (1hr & 50min) Changes in auditor s report Identification of key audit matters Communication of key audit matters ISA 260 Communication with those Charged with Governance (1hr & 10min) Categories of those who are charged with governance and their responsibilities Matters to be communicated The communication process Documentation ISA 570 Going Concern (1hr & 10min) Going concern assumption Evaluating management s assumption Additional audit procedures when events are identified Audit conclusions and reporting ISA 705 Modifications to the Opinions in the independent Audit s Report (50min) Circumstances when a modification of the auditor s report is required Determine the type of auditor s report Consequences of inability to obtain sufficient appropriate audit evidence ISA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor s Report (40min) Emphasis of matter paragraphs in auditor s report Other matter paragraphs Communication with those charged with governance ISA 720 Other information (20min) Reading other information Material inconsistencies Material misstatement of fact 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. 16

Restructuring 17

Λεπτομέρειες Σεμιναρίου Ημερομηνία: 7/10/2016 Τόπος: Γραφεία KPMG, Λευκωσία Ώρα: 8:30 π.μ. 3:30 μ.μ. Διάρκεια: 6 ώρες Κόστος: 294 + Φ.Π.Α. Καθαρό κόστος μετά τη χορηγία της ΑΝΑΔ 102: 247,86 (συμπεριλ. Φ.Π.Α.) για τους δικαιούχους συμμετέχοντες Γλώσσα: Ελληνική Εισηγητές: Χ. Χαραλάμπους, Κ. Παπανικολάου, Π. Πελετιές, Μ. Γρέκας Φορολογικές Πρόνοιες και Λογιστική Μεταχείριση αναφορικά με τις Αναδιαρθρώσεις Τραπεζικών Δανείων, τις Κατασχέσεις και τις Καταναγκαστικές Πωλήσεις Το σεμινάριο αυτό μπορεί να συμβάλει στις προϋποθέσεις για Συνεχιζόμενη Επαγγελματική Ανάπτυξη. Η πρόσφατη ψήφιση νομοθεσιών, οι οποίες περιλαμβάνουν πρόνοιες για φορολογικές ελαφρύνσεις για αναδιαρθρώσεις τραπεζικών δανείων και η ανάγκη αναδιάρθρωσης των τραπεζικών δανείων, οδήγησαν στη δημιουργία αυτού του εκπαιδευτικού προγράμματος. Η εκπαίδευση αναφορικά με τις φορολογικές πρόνοιες και τη λογιστική μεταχείριση που αφορούν στις αναδιαρθρώσεις τραπεζικών δανείων μπορεί να αποτελέσει ένα σημαντικό εργαλείο το οποίο θα βοηθήσει τις επιχειρήσεις στην Κύπρο να συμμορφωθούν με τις νέες νομοθεσίες και να ακολουθήσουν τα Διεθνή Πρότυπα Χρηματοοικονομικής Αναφοράς. Στόχος Σεμιναρίου Στόχος του σεμιναρίου είναι: Να επεξηγήσει στους συμμετέχοντες τις φορολογικές πρόνοιες για τις αναδιαρθρώσεις τραπεζικών δανείων. Να βοηθήσει τους συμμετέχοντες να κατανοήσουν το πεδίο εφαρμογής των φορολογικών ελαφρύνσεων Να προσφέρει καθοδήγηση στους συμμετέχοντες σχετικά με τη λογιστική μεταχείριση, όπως αυτή προβλέπεται από τα Διεθνή Πρότυπα Χρηματοοικονομικής Αναφοράς, αναφορικά με τις αναδιαρθρώσεις τραπεζικών δανείων και την πιθανή ανάκτηση περιουσιακών στοιχείων. Μεθοδολογία Κατά τη διάρκεια αυτού του εκπαιδευτικού προγράμματος, θα παρουσιαστούν στους συμμετέχοντες πρακτικά παραδείγματα. Επίσης, οι εκπαιδευόμενοι θα έχουν την ευκαιρία να εκφράσουν τις δικές τους εμπειρίες και ως εκ τούτου, να μάθουν μέσα από την ενεργό συμμετοχή τους και δράση. Συμμετέχοντες* Οικονομικοί Διευθυντές, Επιχειρηματίες, Λογιστές, Διευθυντές. Αξιολόγηση Οι συμμετέχοντες θα έχουν την ευκαιρία να μάθουν μέσα από πρακτικά παραδείγματα τα οποία θα ακολουθούνται από ερωτήσεις, απαντήσεις και συζήτηση. Στο τέλος του εκπαιδευτικού αυτού προγράμματος θα μοιραστούν στους συμμετέχοντες ερωτηματολόγια σε έντυπη μορφή με τακτική κλίμακα μέτρησης, με τα οποία θα αξιολογηθεί ο εκπαιδευτής, το εκπαιδευτικό πρόγραμμα και το σεμινάριο. Περιεχόμενο Σεμιναρίου Φορολογικές πρόνοιες αναδιαρθρώσεων τραπεζικών δανείων (2 ώρες & 30 λεπτά) Περί Φορολογίας του Εισοδήματος Νόμος Περί Έκτακτης Εισφοράς για την Άμυνα της Δημοκρατίας Νόμος Περί Φορολογίας Κεφαλαιουχικών Κερδών Νόμος Περί Κτηματολογικού και Χωρομετρικού Τμήματος Νόμος Περί Εισπράξεως Φόρων Νόμος Περί Χαρτοσήμων Νόμος Παραδείγματα Στοιχεία υποβολής για εξέταση αναδιαρθρώσεων από το Τμήμα Φορολογίας Επεξήγηση φορολογικών διαφορών μεταξύ αναδιάρθρωσης ενυπόθηκου δανείου και εκποίησης ενυπόθηκου ακινήτου Κατασχέσεις (1 ώρα) Φορολογικές επιπτώσεις κατασχέσεων κινητών και ακινήτων Φορολογικές επιπτώσεις κατασχέσεων περιουσιακών στοιχείων από χρηματοδοτικούς οργανισμούς Καταναγκαστική πώλησης από υποκείμενα στο φόρο πρόσωπα (1 ώρα) Φορολογικές επιπτώσεις καταναγκαστικής πώλησης Συναφείς Υπηρεσίες (15 λεπτά) Σε αυτή την ενότητα θα επεξηγηθούν οι συναφείς υπηρεσίες που σχετίζονται με τις καταθέσεις και τις καταναγκάστηκες πωλήσεις από τραπεζικά ιδρύματα όπως επίσης και η ορθή φορολογική μεταχείριση για σκοπούς ΦΠΑ Λογιστική μεταχείριση αναφορικά με τις αναδιαρθρώσεις τραπεζικών δανείων και την πιθανή ανάκτηση περιουσιακών στοιχείων (1 ώρα) Διαγραφή χρηματοοικονομικών υποχρεώσεων (ΔΛΠ 39 «Χρηματοοικονομικά Μέσα: Αναγνώριση και Επιμέτρηση»): Κριτήρια και λογιστικός χειρισμός Διαγραφή περιουσιακών στοιχείων (ΔΛΠ 2 «Αποθέματα», ΔΛΠ 16 «Ακίνητα, εγκαταστάσεις και εξοπλισμός», ΔΛΠ 40 «Επενδύσεις σε ακίνητα», ΔΠΧΑ5 «Μη κυκλοφορούντα στοιχεία ενεργητικού κατεχόμενα προς πώληση»): Κριτήρια και λογιστικός χειρισμός Επιμέτρηση Εύλογης Αξίας (ΔΠΧΑ 13) όπου αύτη εφαρμόζεται στις περιπτώσεις αναδιαρθρώσεων τραπεζικών δανείων. Σύνοψη και Ερωτήσεις Απαντήσεις (15 λεπτά) Ερωτήσεις/Απαντήσεις Κλείσιμο 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 28. 18

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 2007. 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 organizations, such as financial institutions and entities involved in financial services, 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. Efstathiou Argyro Principal, 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 2005. Argyro has been working in KPMG s Assurance Department since 2002 and currently holds the position of Principal. She has extensive external audit experience in a wide range of industries, with main specialisation in Consumer Products (manufacturing, retail and distribution) and Real Estate. 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. In 2015, she was certified by the HRDA as a Trainer of Vocational Training. Before joining KPMG, Harry was appointed as the managing director of Cyproman Services Ltd responsible for the International Business Sector and VAT issues. Harry was also elected president of the VAT committee of ICPAC for a two year period from 2008 to 2010; his duties included, among others, liaising with the VAT Commissioner and Minister of Finance. Harry is currently the vice president of the VAT committee of ICPAC. In 2015, he was certified by the HRDA as a Trainer of Vocational Training. 19

Trainers' CV Georgiou Emily Supervisor, KPMG Cyprus Emily holds a BA (Hons) in Business Administration specializing in Marketing, as well as a Master s degree in Marketing and Management. In the last year of her Master s degree, she completed a dissertation on Internationalization in the Cyprus market. Emily began her career in 2001 as an accounts assistant in one of the largest trading firms in Cyprus. During her 4 year placement, she evolved into a professional and trusted accountant, responsible for the daily operations for some of the firm s branded international retail shops operating in Cyprus. Emily joined KPMG Cyprus in January 2007. She specializes in Indirect Tax Advisory, Compliance and Reviews Services for both local and international enterprises across a number of industries. As of 2007, Emily attended various international training sessions organized by KPMG s Tax Business School in the UK and Spain, as well as a number of national soft skills seminars. Emily has been a presenter of numerous In-house and open Indirect Tax seminars and presentations. Georgiou Phanos Assistant Manager - Indirect Tax Services Phanos holds a BA (Hons) in Accounting and Finance and he is a Fellow member of the Association of Chartered Certified Accountants (FCCA) as well as a member of the Institute of Certified Public Accountants of Cyprus (ICPAC). He joined KPMG Cyprus Indirect Tax Department in 2011 and specializes in indirect tax consulting and compliance services for the local business sector. Phanos has participated in numerous engagements such as Indirect Tax reviews, audits and due diligences for a range of local enterprises across a number of industries, such as real estate, tourism, betting, telecommunications etc. Furthermore, Phanos has been a presenter for various Indirect Tax training courses to the professional staff of KPMG. In 2015, she was certified by the HRDA as a Trainer of Vocational Training. 20

Trainers' CV Grekas Michael Principal, KPMG Cyprus Following his graduation from the University of Kent, Michael joined KPMG in 2007 starting his career as a trainee auditor in the Audit Department. He gained admission to ACCA Membership in February 2012 and joined the Indirect Tax Department in January 2013. Upon joining the Indirect Tax Department Michael obtained two certificates from IBFD for attending specialized VAT seminars in Amsterdam: European Value Added Tax Seminar Advance and the European Value Added Tax Seminar Workshop. 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. Since joining Indirect Tax Department, Michael participated in various trainings and seminars on Indirect Tax matters and worked on several VAT audits, due diligence projects, compliance and advisory engagements across various industries. Hadjizacharias Zakis Board Member, KPMG Cyprus Zakis studied Accounting and Finance in the UK and qualified as a Chartered Accountant with ICAS; He is also a member of the Institute of Certified Public Accountants of Cyprus. He joined KPMG in the UK in 2001 and then moved to KPMG in Cyprus in 2005. He was admitted to partnership during 2010. He is taking responsibility for a major portfolio of clients, including entities and groups involved in security, investment funds and real estate development. Zakis is heading the IFRS Learning and Development team of KPMG in Cyprus and is a member of the Cyprus International Financial Reporting Standards Group, providing advisory and training services on IFRS issues. In 2015, he was certified by the HRDA as a Trainer of Vocational Training. Michael has provided professional indirect Tax services to several large multinational and local enterprises of various sectors, such as real estate, financial services, oil and gas, tourism, aviation and telecommunications. Michael has been an Instructor for various KPMG training courses, presenter of many KPMG seminars and author of indirect tax publications. He was also elected as a Member of the Fiduciary committee of ICPAC representing tax professionals and providing professional advice on Indirect Tax matters for a two year period from 2015 to 2016. In 2015, he was certified by the HRDA as a Trainer of Vocational Training. 21

Trainers' CV Karantoni Maria Board Member, KPMG Cyprus Maria A. Karantoni holds a BSc Hons in Accounting and Economics from the City University in London. She has obtained her professional qualification from the Institute of Chartered Accountants in England and Wales in 2001 and is also a member of the Institute of Certified Public Accountants of Cyprus (ICPAC) since 2002. Maria has been working in the Audit Department of KPMG since 2001 and she has been appointed Board Member in 2012. Her portfolio of clients includes companies from the oil and gas, trading, banking and IT industries. Maria has extensive practical experience on IFRSs and has attended numerous IFRS courses organized by KPMG International. She is also delivering IFRS courses to KPMG staff and clients covering annual IFRS updates as well as specific standards. She is also a member of the KPMG Cyprus IFRS Helpdesk team which provides support and advice on IFRS technical matters to both clients and staff. Maria is currently the Vice President of the ICPAC IFRS committee. In 2015, she was certified by the HRDA as a Trainer of Vocational Training. Lagou Mundi Irene Senior Manager, KPMG Cyprus Irene holds a Law Degree from the University of Thrake in Greece and she is a member of the Bar Association of Volos in Greece since 2004. She is also an MBA holder. Irene has been working in the VAT Department of KPMG as of 2005 and currently holds the position of Senior Manager. She was amongst the first members to join the VAT Department and has contributed significantly in its organization and expansion throughout the years. Irene has been actively engaged in advising clients in relation to their VAT affairs based on the provisions of the EU and Cyprus VAT Acts. She has a very wide portfolio of clients including companies from the oil and gas, construction and health industries as well as from the financial sector. Irene is in charge of all the publications of the VAT Department both in local and international press, having numerous publications to her credit. She has also been actively involved in the preparation and presentation of many seminars on various VAT issues addressed either to the general public and/or to KPMG colleagues. In 2015, she was certified by the HRDA as a Trainer of Vocational Training. 22

Trainers' CV Neocleous Eleni Principal, KPMG Cyprus Eleni is a Principal in KPMG s Financial Risk Management Department with experience in the areas of risk management, capital adequacy, liquidity management, governance and AML 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 respond to the challenges that arose after the economic crisis and implement regulatory change. She has primarily assisted banks and investments firms on credit, impairment and stress testing issues, advised banks on the ECB SREP framework and SSM approach, and assisted regulators and financial institutions on the implementation of new AML rules in Cyprus. Before joining KPMG Cyprus, Eleni worked for more than 6 years at KPMG UK where she advised international banks, investment firms and insurers on risk management. In the height of the global financial crisis, 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 on how to implement the Supervisory Review and Evaluation process (SREP). Nicolaou John Board Member, KPMG Cyprus John is a Board Member of KPMG Limited and has over 15 years of combined experience in Cyprus and the United States of America. His past and current clients are from various industries including information technology, oil and gas, real estate, shipping, and international trade. John has a BSc in Accounting from the University of Arizona, is a member of the American Institute of Certified Public Accountants, a member of the Institute of Certified Public Accountants of Cyprus and an associate member of the Chartered Institute of Personnel Development. As a facilitator John has extensive experience in providing various courses and seminars in audit, management, leadership, coaching, relationship building, negotiating skills, time management, presentation/facilitation skills, among other courses. In 2016, he was certified by the HRDA as a Trainer of Vocational Training. John is currently the head of Audit Learning and Development team of KPMG Limited. John, supported by a team of experienced facilitators, designs and delivers audit trainings for all levels of audit professionals. Furthermore, John is a member of the Training Committee of the Institute of Certified Public Accountants of Cyprus (ICPAC). The role of the committee is to organize and deliver various trainings to the accounting professionals in Cyprus. In 2015, she was certified by the HRDA as a Trainer of Vocational Training. 23