Audit and Consulting Actuarial Services

Transcription

1 Audit and Consulting Actuarial Services Paseo de la Castellana 164, 6-D Madrid, (+34)

2 To properly attend all mandate requirements each one is assigned to a single partner who will take all responsibility about it and directs a team selected upon client needs. Our Values are: Technical Excellency. Our Goal is to surpass highest expectations benchmarking sector leaders. Continuing Education. It is a priority for our job in order to perform high quality services. Effort. Dedication and continuing work is the base to achieve our targets. Integrity. Morality and ethics will guide us to work and to help our clients Responsibility. We assume our clients challenges as our own and we worry on how our job will affect the company..

3 Welcome Wealth Secur Audit Servicios Auditoría, Consultoría y Actuariales My name is Salvador Muñoz-Perea Piñar, Auditor and managing partner of Wealth Secur Audit, a company that provides Audit, consulting and actuarial services to private and public organizations located in Spain. Our acting is based on technical and services quality, honesty and teamwork. Our company structure and professional experience allow us to offer out clients high quality grade services. Our knowledge on Spanish laws and regulations allows us to offer foreign and local clients quality audit and actuarial services. Our size allows us to minimize client expenses, being very competitive and offering a tailored service. I seriously hope this brochure will help you to understand how we could work for your wealth needs. Salvador Muñoz-Perea Piñar Auditor Managing Partner

4 Audit Services 360º Forensic Audit Financial Audit Internal Audit Insolvency Administration WS Audit Actuarial company services Accounting and Tax Special Reports Grants We are flexible and we are able to adapt where many firms can not arrive due to ther complex structures, high costs or lack of specialization

5 From Wealth Secur Audit we provide services on this practice areas: Financial Audit We have extensive experience in performing audits of privately held businesses, non-profit organizations and government agencies. We perform detailed exams on annual accounts under spanish regulations. Internal Audit Our professionals proactively identify potential accounting and business issues before they become problematic. We perform internal auditing procedures and reports with those weakness detected aling with pur Special Reporting We have wide experience on functions established on Spanish act: "Ley de Sociedades de Capital" on complementary reports to the annual accounting audit. Forensic Audit We combine a high level knowledge with abilities to detect procedures or actions that could be on default regarding applicable regulations including acting as an expert witness. Actuarial Consulting We have experience in various audit regulations, standards, and best practices to provide timely and accurate assurance. Using advanced actuarial techniques we quantify and analyze risks companies are facing in order to finance them. Grants We help clients on Managing grants administration, reporting, and compliance in accordance to Orden EHA/1434/2007, account auditors rules of acting on reviewing justifying memoir, within public sector. Corporate Operations We offer a multidisciplinary professional advice on corporate operations, focused wither on acquirers, vendors, lenders, borrowers or investors. Insolvency Administration We are licensed to provide insolvency administration services as practitioners under Spanish act "ley 22/2003 de 9 de julio, and later modifications.

6 Financial Audit Mandatory Audit over Individual Annual Accounts. We exam annual accounting in accordance to Spanish regulatory framework, expressing an opinion about how the accounts reflects company financial situation, results, cash flows for a due period, following principles and accounting criteria generally accepted. Consolidated annual accounts Audit. We also practice an exam over Group of Companies annual accounting either be obliged or not to the accounting consolidation according to what is established on article 43 o Spanish Code of Commerce. Limited Reviews. Apart from diagnosis, we perform partial or full analysis over financial statements but with no audit report. Our experience o financial auditing covers different kind of companies and adaptation to sector plans: Companies, associations, trusts, IIC s, Insurance, Mutual Funds, Stocks agencies and more.

7 Actuarial Actuarial consulting is valuable to identify and manage risks, not only on insurance companies but also on any kind of company or financial entity. Current market increasing complexity along with bigger transparency demands and management control has meant corporate risk management sophistication. We incorporate advanced actuarial techniques that allow analysis and quantification of those risks companies are facing and how to finance them. Company capacity to manage risks and to assign capitals is closely related because a company with better capitalization can assume higher risks and so in the opposite. Therefore our actuarial team performs the following services: Actuarial obligations valuation, under Spanish regulation (PGC) as under international accounting standards (NI-IAS/IFRS). Social benefit plans for employees and companies. Actuarial study over insurance policies hired by companies, social benefits plans development for employees and managers, mutual funds management. Asset and risk management: Reports about company risks including mitigation formulas, valuation and benchmarking on company assets. Insurance companies advising. Actuarial advising, technical department management, embedded value studies, Solvency II advising and risk management.

8 Internal Audit Internal Control Auditing is in close relation with financial audit objectives because it allows us to obtain information regarding established organization and procedures along with evaluating their fidelity and their influence on financial information. However we understand that internal control system evaluation shall not be a way on financial auditing but a target. Therefore we have enough resources to perform procedures audit and issue corresponding reports that will include not only found weakness but also recommendations that we consider.

9 Grants We help clients on Managing grants administration, reporting, and compliance. Our work is performed under Orden EHA/1434/2007, de 17 de mayo, by which is approved account auditors rules of acting on reviewing justifying memoir, within public sector., previewed on article 74 of Reglamento de la Ley 38/2003, de 17 de noviembre, General de Subvenciones, approved by Real Decreto 887/2006, de 21 de julio. Our work as auditors shall include the following procedures needed to check justifying memoir presented by grantor and to prepare the report. General Procedures: Comprehending beneficiary obligations, Request of justifying memoir, Audit report, and auditor communications. Specific Procedures related to justifying memoir: Acting Memory review, Abbreviated economic memory review, Request to beneficiary a declaration related to subordinated activity finance, Real Estate Appraisal certificate review, Letter of Remnants Reimbursement and Representation Letters.

10 Special Reporting For functions included on Spanish "Ley de Sociedades de Capital" Special Reports over stocks valuation as previewed on articles 124, 125 y 353 of TRLSC. Special Reports over preferred subscription rights exclusions as in article 308 of TRLSC. Special Report over capital increase through credit compensations as in article 301 of TRLSC. Special Reports over reserves for a capital increase as in article 303 del TRLSC. Complementary report to Audit Report for financial Entities, Insurance entities (asked by regulator) and investment services companies

11 Corporate Operations We offer a multidisciplinary professional advice on corporate operations, focused wither on acquirers, vendors, lenders, borrowers or investors in: Company and business acquisitions Mergers. Splits and sales. Company Valuation Fund rising. Re financing.

12 Forensic Audit Financial Investigation We combine a high level knowledge with abilities to detect procedures or actions that could be on default regarding applicable regulations. We help on detecting and quantifying different financial risks to which client wealth is exposed, we find inefficiencies or asymmetric on financial or tax positions. On financial sector and insurance sector we analyze the whole derivatives selling process along with other complex financial products. We check the compliance on information standards established but MIFID Market in Financial Instruments Directive, we perform financial investments valuation over the different stages of its life period including buying, liquidations, reporting and selling. Expert witness as economist or actuary Our knowledge on economy and actuarial science, our experience allow us to produce reports as expert witness as economist or actuaries, either as court request or as part request.

13 Insolvency Administration Servicios Auditoría, Consultoría y Actuariales We are licensed to provide insolvency administration services as practitioners under Spanish act "ley 22/2003 de 9 de julio, and later modifications. We advise on, and undertake appointments in, all formal insolvency procedures including, liquidations, company voluntary arrangement, administration, receiverships, bankruptcy and individual voluntary arrangements. Due to our experience we are frequently appointed as insolvency practitioners by courts. We perform this services basically through identifying and classifying company worth as declared on arrangement with creditors procedure, keeping company worth on the measure of real possibilities and checking operations performed by company to find if fraud operations could have occurred.

14 Salvador Muñoz-Perea Piñar, Auditor (+34) Education: Business administration degree by Universidad Alfonso X el Sabio, Madrid, Title from Universitá degli Studi di Parma, Italia. Post grade studies in Accounting and tax for non profit entities. He holds REA y ROAC courses y he has studied opposition to Spanish Interventores y Auditores del Estado. He speaks english and italian. Career: His career has bben always focused on the audit. He has worked as auditor partner at Bailen20 as well as in other firms as Quorum Auditores and BGT Auditores. He has been director of several seminars about legal and tax aspects of non profit entities. He is member of MSI, PROFESIONALES CONCURSALES DE CÁDIZ, He has been insolvency administrator and expert witness. He is registered member of the Madrid and Valladolid Economist College. Specialties: Specialist in annual account auditing, individual and consolidated, as well as in tax and accounting on non profit entities, and partners and administrator retribution. Susana Gutiérrez Hurtado, Auditor sgh@wsecur.com (+34) Education: Degree in Accounting and computing, Master in Audit and Accounting (Instituto de Censores Jurados de Cuentas de España). She holds ROAC (Consejo General de Economistas). Career: Her career has always been focused in audit, Accounting and Tax. She has worked in several audit Firms as ATD Auditores, BGT Auditores and Adviser Corfin. Specialties: Expert in non profit organizations accounting and tax. She speaks fluent English.

15 José Fuentes Moñino, Auditor (+34) Education: Business Administration Degree by ESERP Business School of Madrid, Diploma in Accounts Auditing by Universidad de Valencia. Master in Accounts Auditing by UNED. Title in expert in financial accounting and in financial auditing by UNED. Career: His career has been always linked on the Auditing. He has worked as managing auditor at Bailén20 and as auditor in the firms: Quorum Auditors, and BGT Auditors, as in Sociedad General de Auditores y Consultores S.A. He is registered member at ICCTME. He speaks English. Expertise: Expert in annual accounts auditing, individual and consolidated, as well as on specialized reports. Miguel Gutiérrez Herrero, Actuario mgh@wsecur.com (+34) Education: Actuarial and Financial Science Degree by Universidad Complutense de Madrid en 2008, Business Administration Degree, by Universidad Rey Juan Carlos Studies in University of Applied Sciences and Arts Northwest Switzerland Fachhochschule Nordwestschweiz Career: His professional career has been always focused on the Actuarial. He has worked as actuary in big companies as Iberdrola, Scottish Power, Hewitt Associates and Cisne Aseguradora. He speaks german, english and portuguese. He is registered member of the Instituto de Actuarios Españoles. Expertise:: Expert in actuarial obligations valuation under spanish regulation (PGC) and international regulation (NI-IAS/IFRS); Social benefit plans for employees and companies; asset and risk management and inssurance companies advising.

16 Start the Conversation Servicios Auditoría, Consultoría y Actuariales We seriously hope this brochure has helped you to understand how we could work for your wealth needs. We will be glad to have the chance to talk to you in person. Please consider get in touch with one of our team members. José Fuentes Auditor (+34) jfm@wsecur.com Miguel Gutiérrez Actuary (+34) mgh@wsecur.com Salvador Muñoz-Perea Auditor (+34) smpp@wsecur.com Susana Gutiérrez Auditor (+34) sgh@wsecur.com Main Office: C/ Basílica, 15 6ºC Madrid (+34) Olmedo (Valladolid): C/ Hospital, 1 Bajo Olmedo, Valladolid (+34) Toledo: C/ Juan Labrador, 1 Planta Baja Toledo (+34) Puerto de Santa María (Cádiz): C/ Jesús de los Milagros, El Puerto de Santa María, Cádiz (+34) Find out more about us at: