The Association of Bulgarian Insurers (ABZ) together with the audit companies Zaharinova Nexia Ltd and HLB Bulgaria Ltd. organized a seminar on “IFRS 17 Insurance Contracts”

On 08 February 2019, a seminar on “IFRS 17 Insurance Contracts was held at the Globus Congress Center, “, organized by the Association of Bulgarian Insurers (ABZ) together with the audit companies Zaharinova Nexia Ltd and HLB Bulgaria Ltd.

More than 70 representatives of insurance companies, members of the Association of Bulgarian Insurers (ABA), as well as representatives of the Financial Supervision Commission took part in the seminar.

Lecturers of the seminar were Tatiana Bitunski and Stanislav Voinovski – both actuaries with rich experience in the field of insurance. They introduced the concept of IFRS 17 and the expected impact that the application of IFRS 17 will have on reporting in the insurance sector. Changes related to the forthcoming simultaneous implementation of IFRS 17 and IFRS 9 “Financial Instruments” were also discussed. The main principles of IFRS 9 and specific measurement models were also presented.

The seminar provided an opportunity for experts and managers from the insurance sector in Bulgaria to improve their qualifications and share their views and expectations about business development and related regulations.

 

 

 

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Six students received internships, cash prizes and scholarships in the national contest “Young Auditor”.

July 17, 2018

The winners were awarded at the official ceremony in Sofia Hotel Balkan.
Six students received internships and prizes on the seventh edition of the National competition “Young Auditor”, which is organized by the University of finance, business and entrepreneurship (VUZF) and the specialized auditing companies “HLB Bulgaria” Ltd. and “Zaharinova Nexia”. The aim of the competition is to promote the profession of auditor among young people in Bulgaria, as well as to highlight the role of the audit in business sector and society as a whole.
First place won Kiril Luchkov from “Dimitar Tsenov” Academy of Economic – Svishtov received cash prize of 2000 lev, established by the auditing company “HLB Bulgaria” Ltd. and the opportunity for one – month internship in the auditing companies “HLB Bulgaria” Ltd and “Zaharinova Nexia”.
Second place in the competition was awarded to Anna Parvanova from Economic University – Varna. She received cash prize of 1000 lev, established by the auditing company “Zaharinova Nexia” and opportunity for one-month internship in the auditing companies “HLB Bulgaria” Ltd. and “Zaharinova Nexia”.
The third place, a cash prize of 500 lev, established by the Institute of Certified Public accountants, was given to Aleksey Singur, from Economic University – Varna.
Three honorary awards were awarded at the ceremony for the participants with the most original ideas solving the case of the test.
The ceremony was attended by many other representatives from many state agencies, public financial sector, commercial, auditing and Insurance companies. Among the official guests were Menda Stoyanova – chairperson of the Budget and Finance Committee in the National Assembly of Bulgaria, Diana Yordanova and Ralitza Agayn -Guri – Deputy chairpersons of Financial Supervision Commission, Tsvetan Tsvetkov– chairman of the Bulgarian National Audit office, Galya Dimitrova – executive director of National Revenue Agency, Ognyan Simeonov – chairman of the Commission for Public oversight of Statutory Auditors, the Deputy Governor of National Social Security Institute Vesela Karaivanova and other guests.
In the Seventh edition of the competition “Young Auditor” participated students from more than 11 universities from home. There were participants form the universities of Glasgow and Italy. The second stage (solving the test) were admitted to pass all participants with more than 60% correct answers.
At this year’s ceremony was announced the officially joining of the auditing company “Zaharinova&Partners” to the network of Nexia International – a leading worldwide network of independent accounting and consulting companies, which is in the Top 10 of the global auditing companies and the network works in more than 115 countries from all over the world. The network has 667 offices, more than 30,000 employees and more than 245 Partners worldwide.

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Over 150 students participated in the anniversary edition of the contest “Young auditor”

June 9, 2016

On June 8, 2016 in the building of VUZF held the award ceremony of the winners in the competition for students “Young auditor – 2016”.

The competition is organized for the fifth consecutive year by the University of Finance, Business and Entrepreneurship (VUZF), together with the specialized auditing companies “HLB Bulgaria” and “Zaharinova and Partners”. The aim of the competition is to promote the audit profession among young people in Bulgaria, and highlighting the role of the audit for the country’s economy and society.

This year’s anniversary competition “Young auditor – 2016” was attended by over 160 students from 18 universities from home and abroad. Most participants had the University of National and World Economy of the University of Finance, Business and Entrepreneurship (VUZF), Academy of Economic “D. Tzenov “- Svishtov and the University of Economics – Varna. The second stage (solving test) were admitted 119 participants. The third stage (case study) were allowed to pass the test more than 60% correct answers.

Among the official guests were Diana Yordanova, MP Vice-President of the Committee on Budget and Finance of the National Assembly, Tsvetan Tsvetkov chairman of the Bulgarian National Audit Office, Vesela Karaivanova deputy governor of NSSI, Vanya Doneva chairman of the Commission for Public Oversight Statutory Auditors, Boyko Kostov chairman of the
Institute of Certified Public Accountants (ICPA), Emil Evlogiev deputy chairman of the ICPA, Velin Filipov and Valya Yordanova deputy chairman of MB of the ICPA, Ventsislav Georgiev, Director PFIA, Lyudmil Spasov deputy chairman of MB of the Institute of internal auditors in Bulgaria (IVOB), Denislav Sokolov member of the MB of IVOB, prof. Dr. Lalko Dulevski, chairman of the Economic and Social Council, prof. Neno Pavlov deputy chairman of the Economic and Social Council.

At the opening ceremony of the competition speeches brought prof. Dr. Grigoriy Vazov Rector of the University of Finance, Business and Entrepreneurship, as well as representatives of the evaluation committee, prof. Ognyan Simeonov and prof. Mihail Dinev.

The fifth edition of the national contest for students audit “Young auditor” was launched on March 14 this year. The participants went through three stages: online registration on the website of the competition, solving test and a case study.

This year the awards finalists received even more attractive prizes than in previous competitions.

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First place in the National Competition audit for students “Young auditor – 2016” won by Anna Mavrodieva UNWE. She received an internship in companies co-organizers of the competition – “HLB Bulgaria” Ltd. and “Zaharinova and Partners” Ltd. for a period of one month. The winner received a cash prize of 2,000 lev established by the Auditing Company “HLB Bulgaria” Ltd., as well as a plaque, accompanied by a certificate of participation. The awards were presented by Ms. Diana Yordanova, Deputy Chairperson of the Parliamentary Committee on Budget and Finance and Ms. Milena Hristova, manager of “HLB Bulgaria”.

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Second place was awarded to Mitko Parushev from Plovdiv University, who also received an intern in both audit companies for a period of one month, a cash prize of 1000 lev established by specialized audit firm “Zaharinov and Partners” Ltd. and plaque and a certificate of participation. The awards were presented by Mr. Tsvetan Tsvetkov, President of the Court of Auditors and Mrs Dimitrina Zaharinov, Manager of “saccharine and Partners”.

Third place was given to Savomir Botev of University of National and World Economy. He gets an internship for a period of one month in companies co-organizers of the competition – “HLB Bulgaria” Ltd. and “Zaharinova and Partners” Ltd., a cash prize of 500 lev established by the Institute of Certified Public Accountants, a plaque and certificate of participation. The award was handed Mr. Boyko Kostov, chairman of the ICPA.

On the ceremony this year were awarded three honorary awards for participants with the most original ideas in solving the case. The awards were granted by the the University of Finance, Business and Entrepreneurship in annual scholarships in the amount of 25% and 20% of the fee for the entire one-year Master’s degree programs of the university.

Special prizes were awarded to Anna Maria Arnaudova (VUZF), second prize received encouragement Vanya Monova (VUZF) and third encouragement award was assigned by Maria Atanasova (World Economy). At the end of the event prof. Grozdev Sava, deputy rector VUZF, officially handed the rector of VUZF Prof. Dr. Grigoriy Vazov the Cup won by the team of students of the university in the National Student Olympiad in mathematics.

More information about the contest can be found on the web page

http://mladoditor.vuzf.bg/

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The fifth edition of the “Young Auditor” is about launch

March 9, 2016

The fifth edition of the “Young Auditor” is about Launch

The rights to participate as contestants have all students who are trained in the subjects of finance, accounting and control of all universities in Bulgaria and abroad.

The fifth edition of the national competition for students “Young auditor” begins on March 14th. The aim of the competition is to promote the audit profession among young people in Bulgaria and to emphasize the importance of the audit of the business and its partners.

Organizers of the competition are the University  of Finance, Business and Entrepreneurship   (VUZF) with the specialized auditing companies “HLB Bulgaria” Ltd and “Zaharinova & Partners” Ltd.

The rights to participate as contestants have all students who are trained in the subjects of finance, accounting and control of all universities in Bulgaria and abroad, regardless of educational qualification level and form in which they are trained. The competition is held in Bulgarian.

On the occasion of the fifth anniversary of the contest the organizers of “Young auditor – 2016” will try to make it more interesting, useful and memorable for its participants and guests.

This year, prizes will be just as challenging. Cash prizes will be also given to distinguished participants on the first, second and third place, and the opportunity for an internship in the leading audit firms. The organizers will provide also three special awards for fourth, fifth and sixth place. Thus they aim to motivate and encourage the students who took part in the competition and have proven their abilities.

 

The contest will pass through three stages:

First stage – Registration

Those wishing to participate can register during the period March 14 – April 3, 2016. A participant is considered registered after properly completed and deposited a registration form. Registration form is located on the site of the competition – http://mladoditor.vuzf.bg/?page_id=57

After completion of the deadline for registration, in the period from 4 to 8 April 2016 each participant will receive e-mail referred to in the registration form, username and password to access the platform “Young auditor”.

Second stage – Test

The test will be open for work from 00:00 am on April 11, 2016 until 23:59 pm on April 24, 2016. Each participant that solved the test with more than 60% correct answers is allowed to the next stage of the competition. At the time of completion of the test, each participant receives an automatic response from the system letting them know if they are admitted to the third stage.

Third stage – Case studies

The case studies will be available in the online platform in the period 9 May to 22 May 2016. Each admitted participant must use the username and password of the current registration.

The final results and the winners will be announced at the official ceremony which will be held on June 8, 2016 in the building of VUZF.

More information about the contest can be found on the website: http://mladoditor.vuzf.bg/.

About the competition “Young auditor:

The idea for the contest “Young auditor” was born because of the existing somewhat confusion among young people about the role of the auditor as well as to affirm the need for an external, independent and as objective assessment of the financial position of companies.

In last year’s competition involved more than 99 students from 10 universities in the country. Most participants have registered from the University of National and World Economy (UNSS) in Sofia (32), followed by the Academy “D. Tzenov “- Svishtov (19) and University  of Finance, Business and Entrepreneurship (VUZF) – Sofia (18). The second stage – a test admitted 81 participants, 33 men (41%) and 48 women (59%). Third stage – case solving, reached those who passed the test with more than 60% correct answers. The subject of the case that reflect all participants in the contest is “Audit procedures for verification of property, machinery, instalations and equipment.”

The first prize was awarded to Georgi Stoyanov (UNSS), Second prize – Martin Stoev, (VUZF). Third place was given to Anita Emilova (VUZF) that received the opportunity for internship of a period of 1 month in “HLB Bulgaria” and after was proposed to continue working in the company on the position she still occupies today. This is proof of the usefulness and effectiveness of participating in “Young auditor” and a guarantee for future success.

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INFRASTRUCTURE BULGARIA AWARDS 2016

February 24, 2016

On February 23, 2016 in Sofia Event Center, Paradise Center, Sofia hosted the award ceremony of INFRASTRUCTURE BULGARIA AWARDS 2016.

Awards for contribution to the development of Bulgaria’s infrastructure broadcast 20 winners – 8 first place and 12 special awards. 48 nominated projects were completed throughout 2013-2015

“HLB BULGARIA” Ltd. was a consultant auditor and part of the 30-member jury which determined the awards in 8 categories in the first edition of the awards INFRASTRUCTURE BULGARIA AWARDS 2016.

The initiative is under the auspices of the Ministry of Transport and Communications, the Ministry of Regional Development and Public Works and the Ministry of Environment and Water and with the cooperation of industry, academic and professional organizations in the sector

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National Competition audit for students “Young auditor – 2015.”

June 12, 2015

The competition “Young auditor” is organized for the fourth consecutive year by the Higher School of Insurance and Finance (VUZF) together with specialized auditing companies “HLB Bulgaria” LTD and “Zaharinova and Partners” LTD. The aim of the competition is to be promoted audit profession among young people, and focus on the role of audit in business and society as a whole.Among the official guests of the event, took an active part in the award ceremony were Mrs. Menda Stoyanova, Chair of the Budget and Finance Committee in the National Assembly, Mr. Biser Petkov, Manager of the Institute, Mrs. Diana Yordanova deputy. Chairman of the committee on budget and finance, Mr. Tsvetan Tsvetkov, president of the court, Ms. Merry Karaivanova, deputy governor of the institute, Ms. Vania Donev, chairman of the commission for public oversight of Statutory Auditors, Mr. Victor Trifonov, general secretary of the commission for public oversight of statutory auditors, Mr. Boyko Kostov, chairman of the Institute of chartered accountants (ICPA), Mr. Velin Filipov, deputy chairman of the ICPA, Mrs. Stefka Stoeva constitutional judge.
As part of the event, the president of the court of auditors Mr. Tsvetan Tsvetkov presented the new law on the court and revealed the mechanisms for interaction with other national bodies. The discussion was focused around the scope of the court and its cooperation with the authorities in combating crime and corruption.
Participation in National Competition “Young auditor – 2015” took 99 students from 10 universities in the country. Most participants had registered by the World Economy (32), followed by the Academy “D. Tzenov “- Svishtov (19) and the Higher School of Insurance and Finance (18). The second phase, solve the test were allowed 81 participants, 33 men (41%) and 48 women (59%). By the third stage, case studies, were allowed passed the test with more than 60% correct answers (test at least 13 correct answers). “Audit procedures for verification of property, plant and equipment” was the theme of the case in which reasoned all contestants.This year’s awards for finalists were more challenging of last year.

First place in the National Competition audit for students “Young auditor – 2015” won Georgi Stoyanov World Economy. The winner receives an intern in companies co-organizers of the competition – “HLB Bulgaria” LTD and “saccharine and Partners” Ltd. for a period of one month. The winner received a cash prize of 2,000 lev, as well as a plaque and certificate of participation. The award was presented by Mrs. Menda Stoyanova.

Second place was awarded to Martin Stoev VUZF who also gets an intern in both audit companies for a period of one month, a cash prize of 1,000 lev, as well as a plaque and certificate of participation. The award was presented by Mr. Biser Petkov.
Third place was reserved for Anita Emilova VUZF. The student gets the opportunity to experience a period of one month, a cash prize of 500 lev a plaque and certificate of participation. The award was handed Mr. Boyko Kostov.
The ceremony this year and were awarded three honorary prizes for participants with the most original ideas in solving the case. The awards were granted by the Higher School of Insurance and Finance in annual scholarships in the amount of 25% and 20% of the fee for the entire one-year Master’s degree programs of the university, teaching in Bulgarian.
Special prizes were awarded to Joy Racheva (World Economy). The award gave her Assoc. Prof. Grigoriy Vazov, Rector VUZF.
The second incentive award was given to Mila Georgieva (Business Academy “DATzenov” – Svishtov) awards in January Ms. Vania Doneva.
Third encouragement award went to Evtimia Bahchevanova (VUZF).
More information can be found on the website of the competition: http://mladoditor.vuzf.bg/.
Media partners of the event are: magazine. “Economics” in. “Insurer Press” Agency “CROSS”, Inews.bg, Klassa.bg

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The best students in the contest “Young auditor” 2014

June 5, 2014

The best students in the contest “Young auditor” 2014 were awarded

The best students in the contest Young auditor 2014 were awarded

 

 

 

 

 

 

On June 4 in the Higher School of Insurance and Finance (VUZF University), an official award ceremony of the

finalists in the 3rd national contest in auditing for students “Young Auditor” was held.

The contest was organized for the third consecutive year by VUZF University together with the specialized audit firms HLB Bulgaria Ltd and Zaharinova & Partners. The contest aims to promote the audit profession among young generation in Bulgaria, and to emphasize the role of audit in the business community and society in general.

Students studying Finance, Accounting and Control from all universities in Bulgaria and abroad have the right to participate in the contest. The competition passed in 3 stages after which the finalists were selected:

1. Registration of participants and verification of their eligibility in the contest.

2. Online Test in International Standards on Auditing.

3. Solving a case study in application of specific audit procedures.

This year the competition was attended by 232 students from 20 universities in the country, which was over a third more students than last year. The most participants had registered from the University of National and World Economy (83), followed by the University of Economics in Varna (52) and the Academy of Economics “D.A.Tsenov” in Svishtov (30). 45 men (24%) and 143 women (76%) were allowed entry to the second stage of the competition.

The best students in the contest Young auditor 2014 were awarded

 

 

 

 

 

The three finalists – Christina Eneva – 1st place (University of National and World Economy), Nikolai Stoynov – 2nd place (University of National and World Economy) and Lazarina Sirakova – 3rd place (VUZF University) won internships in the audit firms-organizers and scholarships from VUZF University.

The awards ceremony was attended by a number of special guests, including Mrs. Lydia Roumenova, Chairman of the Bulgarian National Audit Office; Mrs. Vanya Doneva, Chairman of the Commission for Public Oversight of Statutory Auditors; Mr. Boyko Kostov, President of the Institute of Certified Public Accountants; Mrs. Boryana Pencheva, Member of the Governing Council of the Bulgarian National Bank, Yordan Karabinova, Chairman of the Institute of Internal Auditors in Bulgaria and other important representatives of the finance community.

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HLB Bulgaria organized Forum “Changes in the Public Procurement Act”…

January 10, 2014

HLB Bulgaria organized Forum “Changes in the Public Procurement Act” with participation of Deputy Prime Minister Daniela Bobeva – 10.01.2014

Changes in the Public Procurement Act

On January 10, 2014 at the Higher School of Insurance and Finance (VUZF) was organized a discussion forum on the changes in the Public Procurement Act (PPA). The forum was opened by Deputy Prime Minister for Economic Development of the Republic of Bulgaria – Daniela Bobeva, who presented the status of the public procurement and shared with participants draft law on amending and supplementing the PPA. The event was organized by HLB Bulgaria in partnership with VUZF.

Representatives of the enforcement authorities in the field of public procurement (Bulgarian National Audit Office, the Agency for State Financial Inspection and the Commission for Protection of Competition) presented their point of view.

Changes in the Public Procurement Act

Jan Skvaril, Managing partner of HLB Bulgaria, shared findings from an analysis of the reports of the supervisory authorities in the field of public procurement, and studies of non-governmental organizations: “We have identified three main groups of causes leading to the problems and disorders in the field of public procurement. These are relatively frequent changes in legislation. The second group is non-compliance with the law and corruption practices. Third group which we consider the most important is the human factor, and in particular the lack of qualification of the persons engaged in planning, procurement and execution of contracts.”

Changes in the Public Procurement Act

 

 

 

 

 

Jan Skvaril added that Bulgaria is not the only country struggling with problems in public procurement: “In my native Czech Republic major change in the PPA was made in April 2012. Recent survey of agency “Otidea” performed among 500 assignors and 150 contractors showed that:

  • 95% of companies still faced with pre-adjusted orders;
  • 85% of the assignors prefer to apply price as a single criterion for the economically most advantageous offer, being afraid of attacks on the transparency of the procedure;
  • 60% of the contractors admitted that there were cases when offered dumping price below cost of contract;
  • 90% of assignors and 80% of contractors believe that the dumping prices of tenders for construction works may endanger the safety of the facilities.”

Changes in the Public Procurement Act

 

 

 

 

 

HLB Bulgaria together with VUZF developed specific training program and created “Academy for public procurement”, to provide the opportunity to acquire knowledge and qualification to all persons involved in the implementation of the law on public procurement.

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HLB Bulgaria won major audit project…

December 19, 2013

HLB Bulgaria won major audit project for the Enterprise for management of the environment protection activities, with the contract value of €434 thousands. – 19.12.2013г.

HLB Bulgaria signed a contract with the Enterprise for management of the environment protection activities for the audit of the project “Implementation of activities concerning closure and recultivation of municipal waste landfills that do not meet the legal requirements” funded by European operational program Environment.logo-hlb-bulgaria

In implementing the project HLB Bulgaria will audit projects in 48 municipalities throughout the country. The contract value is €434 thousand and implementation period of 24 months.

HLB Bulgaria won the project despite strong competition of five leading audit companies in the country – second and third place went to KPMG Bulgaria and Deloitte Bulgaria. The proposal of HLB Bulgaria was assessed with the highest score, as a complex evaluation of tenders was 70% for the evaluation of the technical proposal and 30% for the price proposal.

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Jan Skvaril, Managing Partner of HLB Bulgaria…

November 28, 2013

Jan Skvaril, Managing Partner of HLB Bulgaria, took part in the business forum „MySuccess.bg in Food & Beverage: Within a radius of attraction“ – 28.11.2013г.

On November 28, 2013 in hotel Sheraton Sofia was held the Business Forum organized by magazine ENTERPRISE, focused on effective solutions and market trends for the producers, distributors and retailers in the food and beverage industry.

Jan Skvaril, Managing Partner of HLB Bulgaria presented effective strategies of Bulgarian companies in the food and beverage industry, as well as success stories of local companies on foreign markets.

He shared with the participants of the forum experience in strategic and business planning, pointing the most common mistakes that companies make during business planning.

Jan Skvaril shared experience in work in various markets.

He drew attentiologo-hlb-bulgarian of the representatives of Bulgarian companies in the sector to his observation that one of the main differences between Western and Eastern European entrepreneurs is that second look for extremely quick profit.

More information and presentations from the forum can be found at food13.mysuccess.bg/programme

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