Banking Accounting Advisory - KPMG

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Key contacts

Charlotte Lo Director T: +44 (0)20 7694 2867 E: [email protected]

Colin Martin Partner T: +44 (0)20 7311 5184 E: [email protected]

Evelyn Bunn Anderson Director T: +44 (0) 20 7311 2664 E: [email protected]

Banking Accounting Advisory kpmg.co.uk

Elizabeth Graystone Senior Manager T: +44 (0)20 7694 6591 E: [email protected]

May Tiem Gillen Senior Manager T: +44 (0)20 7694 2891 E: [email protected]

Silvie Koppes Senior Manager T: +44 (0)20 7694 8803 E: [email protected]

Uni Choi Manager T: +44 (0)20 7694 8119 E: [email protected]

Jeffrey Kranzel Senior Manager T: +44 (0)20 7311 5596 E: [email protected]

Stacey Howard Senior Manager (on leave 2014) T: +44 (0)12 1232 3120 E: [email protected]

Banking industry professionals who lead their firms to improved credibility in the world markets rely on KPMG’s Banking Accounting Advisory practice as a trusted advisor. Our team of accounting and regulatory specialists have deep technical skills, relevant experience and diverse market insights to provide practical accounting and regulatory solutions. Our advice is backed by KPMG’s powerful global network of professionals in over 40 countries worldwide.

What we do

Business Structuring Rita Gyulai Assistant Manager T: +44 (0)20 7311 4001 E: [email protected]

Banking accounting advisory services

Our awards

Accounting Policy and Financial Reporting www.kpmg.com The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

New Standards and Regulations: Accounting and Regulatory

© 2014 KPMG LLP, a UK limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The KPMG name, logo and “cutting through complexity” are registered trademarks or trademarks of KPMG International Cooperative (KPMG International). Produced by Create Graphics | Document number CRT025359

Technical Advisory (Audit Support and On-Call)

What we do

Credentials

Service offerings

Description of service

Who needs this?

New Standards and Regulations: Accounting and Regulatory

Lead and assist in the following impact assessments and implementation projects: • IFRS 9: Financial Instruments • New UK GAAP FRS 100, 101 and 102 • FINREP • Capital (CRD IV) • Clearing (EMIR) • Leases

• Banks and regulated industries • All industries with financial instruments and leases

• Assist Banks in developing new product • Review and/or opine on complex technical accounting transactions and issues (pre and post transactions)

• Banks and regulated industries: Front Office or Accounting Policy functions • Corporates’ Treasury functions

Technical Advisory (Audit Support and On-Call)

How do you benefit?

Contact

• Reduce costs by leveraging KPMG’s multi-disciplined expertise and project management • Credibility and best practice • Practical and effective knowledge transfer and training • Ongoing trusted support • Robust documentation

• Charlotte Lo • May Tiem Gillen

• New business • Confidence in the impact of new transactions • Credibility with your clients • Confidence in managing reputational risk

• Elizabeth Graystone • Jeff Kranzel

Accounting Policy and Financial Reporting

• Best practice • Accounting/ review of Treasury (all accounting policies industries) • Best practice • Banks: advice on Better Regulatory Business Reporting Reporting (integrated reporting and Pillar 3)

• Enhanced credibility with investors • Differentiation internally and externally • Confidence in robust and relevant policies • Focused, efficient, relevant financial and regulatory reporting

• Silvie Koppes • Jeff Kranzel

Business Structuring

• Bespoke multidisciplinary strategic or remedial projects requiring technical expertise • Section 166 or Skilled Person

• Confidence in the quality of technical expertise delivered • Confidence in the relationship with KPMG as one firm of trusted advisors

• Evelyn Bunn Anderson • Charlotte Lo

• Multi industry

Service offerings

Details of work performed

IFRS 9 Expected Losses

• IFRS 9 impact assessment for a large building society and a large UK bank and as strategic advisor for another large International bank.

UKGAAP FRS101 and 102

• We have assisted multiple large international banking and financial services companies in their preparation for new UK GAAP. Our work includes performing gap analyses, and reviewing accounting policy memos and template financial statements and assistance in implementation.

Hedge Accounting review

• We have provided accounting advice in relation to the possibilities for hedge accounting for basis swaps under IAS 39 and additional support to assist with defining the model to be built to many large UK banks, challenger banks, building societies.

Business Structuring

• We have assisted several large UK banks in improving their business and target operating models and was appointed to produce Skilled Person’s reports under Section166 of the UK regulatory requirements in relation to a large UK bank and several foreign banks.

Technical Advisory

• Real-time ad-hoc accounting advice to front office equity, commodities and fixed income desks of various foreign banks in relation to pre-trade discussion of debt/equity classification and offsetting (under IAS 32), recognition and derecognition and hedge accounting strategies (under IAS 39).

Accounting Policy and Financial Reporting

• Reviewed Pillar 3 reporting for 20 UK banks • Reviewed the accounting policies of a challenger bank in conjunction with their transition from UK GAAP to EU-IFRS.

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Banking Accounting Advisory - KPMG

Key contacts Charlotte Lo Director T: +44 (0)20 7694 2867 E: [email protected] Colin Martin Partner T: +44 (0)20 7311 5184 E: [email protected]

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