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Insurance financial services

As auditors, we believe in adding value through the audit process by taking a business approach to the audit engagement.

While our primary responsibility will be to conduct our audits in accordance with generally accepted auditing standards, we understand that our clients are seeking more than just an audit report – you are seeking a professional services provider.

Our customized assurance services refer to the:

  • Audit of financial statements (annual/ interim, consolidated/ separate)
  • Related assurance services (such as review of financial statements, review of prospective financial information, issuance of Comfort Letters etc.)

The Financial Services Insider | Issue 8

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  • Tax audits according to ministerial decision 1159/2011
  • Assurance services other than audit based on agreed upon procedures
  • Asset Quality Reviews 
  • IFRS valuations
  • Review of capital adequacy

Regulatory and compliance services:

Insurance industry is becoming to be an increasingly complex and heavily regulated environment.Every day new rules are established and frameworks get updated. As the supervision of the sector has been significantly increased during the last two years and as reviews and inspections are been conducted by the Regulators more frequent than the past, our FS expert team is capable to support you via several ways to ensure you comply with the changes of regulatory and to retain your overall regulatory compliance.

Our Regulatory services are mainly related to:

  • Review and compliance gap analysis regarding regulatory frameworks such as Solvency II
  • Review of Solvency II reporting requirements
  • Preparation of a roadmap for new IFRS implementation such as IFRS 4
  • Corporate Governance assessment 
  • Compliance consultancy in the frame of the preparation  of a company internal regulation ,policy or internal processes manual

Advisory services:

Grant Thornton's multi-disciplinary Financial Services team uses its deep knowledge of the sector to provide robust, independent and professional advice on today's most important issues.Grant Thornton financial advisory services indicatively include the following:

  • Transactional advisory services
  • Operational Improvement
  • Other Consulting Services
  • Tax Consulting Services 
  • Outsourcing Services