Purpose and plan for Compliance function implementation

     The State Concern "Ukroboronprom" (Concern or Group) relies on the principles of corporate governance as banchmark for establishing a target governance model. In order to comply with those principles, the Concern works to create and provide the effectiveness of compliance programs, internal control and business ethics. Ukroboronprom implement the compliance function, which is an effective tool for preventing and minimizing corruption risks, conflicts of interest, violations of the law or non-compliance with standards .

     From January 2021, the Compliance function in the Concern was headed by Mykola Roienko. Mykola has more than 20 years of experience as an independent auditor in the "Big Four" companies, as well as experience in implementing of internal audit and compliance function in domestic companies. His responsibilities is implementation of an effective compliance function at all enterprises of the Concern “Ukroboronprom”. The next steps in creating a compliance function are the preparation of the methodological framework (code of ethics, compliance policies and procedures), preparation of the compliance program and plan, implementation of the compliance training function, compliance audits according to the approved compliance program.