Insurance, Provident Funds and Pension Funds
Specialty in the Field of Insurance
BDO ISRAEL specializes in assisting insurance companies in adapting to the Post-Bachar Reform Reality. The Firm’s experience in the banking sector is a significant added value to insurance companies that are launching credit products and financial activities which, until recently, had been exclusively restricted to the banking system.
BDO ISRAEL guides a number of insurance companies in these areas and provides services relating to SOX, risk management, improvement of controls, etc. In providing said services, the Firm is assisted by an actuary and a leading insurance professional.
Specialty in Provident and Pension Funds
BDO ISRAEL has long-standing experience in handling pension and provident funds, and their management companies. Where necessary, the audit work is complemented by an audit of the IT systems and assisted by an independent external actuary.
The employees of the audit groups are regularly updated of all the legislation, circulars and professional publications of the Capital Markets, Insurance and Savings Division in the Ministry of Finance and with respect to the Income Tax Regulations applicable to pension funds and provident funds.
BDO ISRAEL has long been guiding private provident funds and bank funds, including funds for employees and for the self employed, pension funds, personal severance pay funds, etc.
Our office participated in the preparation of the sample financial statements of a pension fund, including the formulation of the format of the statements and the accompanying notes. This report has been used by the Capital Markets, Insurance and Savings Division.