Audit & Assurance

Our audit engagements go beyond their primary objective of opining on the annual accounts and financial statements in accordance with auditing standards.

We deliver at 4 levels:

Management

  • Clear and timely communication of issues that have come to our attention as a result of the performance of our audit;

  • Frequent two-way dialogue on emerging issues, including future developments in accounting, regulation and taxation;

  • Communication of areas of audit risk that are not sufficiently mitigated;

  • Continuous enhancement to our level of service, responding to Management’s evaluation of our services, which we will formally seek on an annual basis.

Shareholders and Stakeholders

  • Independent opinions and reports that add credibility to financial information released by the Company.

Supervisory Authority

  • Regulatory special reports

  • Independent opinions and reports: Reasonable assurance that the annual accounts give a true and fair view in accordance with applicable financial reporting standards;

  • Objective feedback on accounting policies and practices as well as significant estimates and judgments made by Management;

  • Clear communication of areas of significant audit risk and our procedures designed to address those risks;

  • Timely reporting of significant matters that have come to our attention as a result of our audit;

  • All communications required by auditing standards, such as significant control deficiencies and material control weaknesses and audit adjustments as well as significant communications between PwC and Management;

  • Regulatory reports: (a) Rapport Distinct on Solvency 1 matters (b) “Rapport Spécial” on AML/FT (Règlement CAA 20/03 and Circular Letter 19/11) and (c) other reports, where applicable.

The size of our practice and the diverse insurance and reinsurance companies (incl. captives) that we audit enable us to devise and execute efficient audit strategies, based on our deep experience and understanding of the industry.

  • We work as one team to adapt our audits to your changing environments;
  • We focus on having a joined-up approach across our accounting, actuarial, IT and tax teams, to ensure consistency of information and to enhance opportunities for efficiency;
  • We deliver meaningful insights from industry experts through observations and recommendations on financial reporting, accounting, tax and internal control issues from our professionals, including sharing industry best practices;
  • We provide insights and benchmarking reports to enable you to compare yourself with peers, the wider market and across business units in areas that impact your business;
  • We leverage technology and consistently look for opportunities to include technology and tools to enhance audit quality and deliver to the companies greater effectiveness and audit insights.

In addition to the audit and review of annual accounts and financial reportings, our assurance services include:

  • Reviewing engagements in the context of specific transactions such as interim dividend, contribution in kind, merger, liquidations, review of interim financial information;
  • Regulatory reporting (e.g. "Rapport Distinct / Special Report", "Rapport Spécial LAB-FT / Special Report AML-CFT", "Rapport Distinct / Special Report Solvency 2")
  • Assurance reports on controls at service organisations' levels (Controls reports, SSAE 16 reports) and or insurance and reinsurance undertakings;
  • Agreed upon procedures reports.

Our Insurance Audit experts:

Anthony Dault

Audit Partner
Tel: +352 49 48 48 2380
a.dault@pwc.com


Marc Voncken

Audit Partner
Tel: +352 49 48 48 2461
marc.voncken@pwc.com

Sylvia Pucar

Audit Partner, Assurance Leader
Tel: +352 49 48 48 5663
sylvia.pucar@pwc.com

Christiane Schaus

Audit Partner
Tel: +352 49 48 48 2346
christiane.schaus@pwc.com

Contact us

Matt Moran

Matt Moran

Insurance Leader, PwC Luxembourg

Tel: +352 49 48 48 2071

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