2011-12-02
Professional accountants approved international technology for the Ukrainian accounting
Ukrainian localization of Microsoft Dynamics NAV and Microsoft Dynamics AX products (IW Ukrainian Localization solution), developed by Innoware, Microsoft Gold Certified Partner in ERP competence, was reiterated by the certificate of the Ukrainian Federation of Professional Accountants and Auditors (UFPAA).
According to the UFPAA experts’ opinion, Innoware localization for Microsoft Dynamics NAV and Microsoft Dynamics AX products allows for carry out accounting and tax accounting in accordance with the National Accounting Standards and the Tax Code of Ukraine. In 2005 the Certificate of the localization compliance with the fiscal requirements of Ukraine was issued by UFPAA experts for the first time.
In addition, UFPAA experts gave a positive opinion on IW HR&Payroll solution, developed by Innoware, which allows managing human resources and time registration as well as to fulfill payroll accounting and calculate taxes and contributions to funds in accordance with the laws of Ukraine.
Availability of IW Ukrainian Localization and IW HR&Payroll solutions in international Microsoft Dynamics ERP systems allows to support all company’s business processes on the single platform. This allows to significantly reduce time and cost of ERP implementation, and also as provides access for Ukrainian companies to the best international management practices.
"Our cooperation with UFPAA began in 2005, when we engaged experts of this organization to evaluate the solution we developed - IW Ukrainian Localization. Since that time, the localization was substantially amended due to changes in legislation, as well as the release of new versions of software products. In 2011, we realized the need to work with UFPAA, because we wanted to obtain confirmation from a qualified organization, that functionality, we have developed, complies with the current legislation. We have been working with UFPAA for almost 5 weeks and during that period we have demonstrated the functionality to UFPAA experts, answered their questions and made a number of additional settings and amendments in accordance with the recommendations of the experts "- said Taisiya Bondar, Partner and COO of Innoware.
Valentina Lehka, Executive Director of Ukrainian Federation of Professional Accountants and Auditors: "Our organization has been involved in development of the national accounting standards and getting them comparable to international principles. Cooperation with Innoware allowed us to make sure that the national standards can be supported by international accounting systems. It is an indirect evidence for us of the right direction to develop our practices and bring them to international financial reporting standards."