Financial Services

Services

Financial Services

Let Deloitte change the way you view your business

As part of Deloitte’s fully integrated firm across Central Europe, our practice in Latvia draws not only from local expertise but also from the expertise of our practitioners across the region.

We have the scale of resources you require, the quality, creativity and breadth of view that enables us to deliver insights that can change the way you work and what you achieve.There is some text

Actuarial & insurance solutions

The new century has been a period in which there has been enormous pressure on the insurance sector throughout Europe. The forces involved are crushing – asset values have plummeted; government and regulatory intervention has intensified; distributors are taking the lion’s share of income in key markets. The traditional operating model for insurers is unequal to the challenges the industry faces. New models must emerge.

Actuarial & insurance solutions are the specialist insurance and actuarial consulting group. Deloitte member firms’ actuarial practice is strongly represented throughout North America, Europe, Middle East, Africa and Asia/Pacific.

Actuarial centre of excellence (ACE) has been created in Deloitte Central Europe to further advance and strengthen our position in actuarial work in Central Europe. We are committed to providing the skills, expertise and experience that will help our clients transform themselves. Our emphasis is on providing:

  • The very best actuarial and consulting people, techniques and thinking, applied with the right focus to the commercial imperatives of our clients
  • The ability to analyse markets, to give data-driven shape to their future and to translate these into the financial implications
  • Ever-improving understanding of risk patterns and risk drivers, not just for insurers but for financial services organisations more widely
  • Actuarial and business modelling software in the world, including TSM
  • Practical help, drawing on the world class professional services provided by Deloitte, in implementing the transformation programmes

Audit

Deloitte addresses the globalisation of businesses by means of a proprietary international audit approach that is used by all DTT member firms. Our global audit approach, known as AuditSystem/2 (AS/2), was the first to include a fully integrated audit methodology, standard documentation, and enabling software.

Although the approach is consistent throughout the world, it recognises that clients are unique and that financial reporting and professional requirements vary from country to country. As such, our international audit approach and software are designed to facilitate tailoring to a particular client’s operations and financial reporting requirements, as well as a particular country’s professional requirements. Our services focus on the auditing of stand-alone entities and consolidated financial statements of domestic and international companies.

In Latvia, our specialist FSI audit team audits a number of other banks, asset management companies, leasing companies, real estate investments insurance companies and pension funds.

 

Our audit and assurance services for financial institutions include:

  • Audit and review of financial statements prepared primarily in accordance with international financial reporting standards and local standards
  • Assurance services related to regulatory reporting
  • Accounting advisory services regarding International Financial Reporting Standards
  • Coordination of international engagements
  • Audit of banks and financial institutions
  • Audit of pension funds
  • Audit of charities connected with large banking groups
  • Internal audit outsourcing and co-sourcing
  • Internal audit quality assurance reviews.

 

Our services also include advice in and expertise for:

  • New business start-ups
  • Mergers and acquisitions
  • Stock exchange listings (IPOs)
  • Assistance in the preparation of financial statements in accordance with international standards (IFRS, US GAAP)
  • First time adoption of IFRS
  • Due diligence procedures
  • Fraud prevention related services
  • Risk management related services
  • Tax

Consulting

We work with financial institutions tackling a broad range of issues, from enhancing operational performance to improving sales, or getting better returns on technology.

Our dedicated financial services team offers unrivalled technical and business expertise; and because of the way in which we recruit, train and team with colleagues from different disciplines, Deloitte stands apart from its competitors.

Our unique ability to bring together multi-disciplinary teams, including HR, Tax, Regulation, Forensic and industry experts, means we deliver a comprehensive solution tailored to fit your particular business environment.

Enterprise Risk Services

Enterprise Risk Services (ERS) practice is the global leader in helping clients manage risk and uncertainty, from the boardroom to the network. We provide a broad array of services that allow clients around the world to better measure and manage risk and control, and to enhance the reliability of systems and processes, throughout the enterprise.

We help our clients at all levels of the organisation to anticipate, understand and address a broad spectrum of strategic and operational risk.

Financial Advisory Services

Acquisition advisory (buy and sell side), including advice on:

  • market analysis
  • target search and evaluation
  • bid strategy and formulation
  • competitor analysis
  • scenario analysis
  • business plan formulation
  • negotiation assistance

 

Valuation and business modeling, including stand alone and merger valuations, complex budgeting and controlling models.

 

Strategic assistance, including:

  • market analysis/research
  • preparation on sophisticated analysis of future market development
  • assistance in development of strategy
  • financial benchmarking
  • preparation of strategic plan/model

 

Assistance in structured and project finance including:

  • modeling,
  • model reviews
  • due diligence
  • preparation and review of feasibility studies

Tax

Every transaction has a tax effect. At Deloitte, our tax practitioners work hard to help our financial services clients increase their bottom line by delivering a full range of tax services that help minimise the effect of many taxes our clients face. In addition, to give our clients peace of mind, we help them comply with local tax regulations wherever they operate in the world.

Our services include:

  • International Corporate Tax Services
  • Local Corporate Tax Services
  • Indirect Tax Services – VAT and Customs Duty
  • Transfer Pricing Services
  • Merger and Acquisition Services
  • Personal Tax Services
  • International Assignment Services
  • Employee Benefits Services
  • Business Services
  • Legal Services