The securitisation industry is a fast growing and innovative environment.
In any securitisation or covered bond transaction, you need assurance that the structure is fully compliant with all relevant regulatory, accounting and taxation requirements.
Various structures are used in connection with financial arrangements such as Credit Linked Notes, Collaterised Debt Obligations, Asset Backed Securities and Residential/Commercial Mortgage Backed Securities, Catastrophe Reinsurance Linked Securitisations, tax or capital driven financing and the repackaging of financial instruments. Regulations are also getting tighter in the form of International Financial Reporting Standards, Basel II, US GAAP and FIN 46 (R).
Mazars teams can give you this assurance, either in an advisory capacity or in audit or monitoring roles. Our dedicated team is specialised in securitisation and complex structured finance projects. Our approach is flexible and creative and we tailor our services to your specific needs and challenges.
A wide range of services
We act for a large number of Irish, European and International financial institutions and accordingly have extensive experience in auditing and advising issuers of securities. Throughout all phases of the transaction process – from deal conception, pricing, closing and beyond – our securitisation specialists can assist you.
Financial Reporting and Audit
- Statutory and Contractual audit: Our audit and assurance teams have significant experience of the audit issues relevant to SPVs, covered bonds and other securitisation entities and bring this experience to bear in providing you with an efficient audit process and requisite audit assurance.
- Asset Pool Monitor: Mazars currently act as Cover Asset Monitor to a number of issuers of covered bonds in Ireland, Italy and France.
- Accounting support: Our team can assist in drafting SPV financial statements quickly and according to your timetable.
Advisory and Tax
- Asset due diligence: Mazars can provide due diligence to ensure that pool data is consistent with underlying documentation and that lending policies are appropriately applied in respect of pool assets.
- Taxation compliance: Mazars taxation advisory and compliance team can provide assistance with taxation planning aspects of a securitisation transaction, as well as supporting you to meet SPV taxation compliance obligations.
- Accounting advisory: Accounting for complex securitisation structures can be challenging. Mazars can offer you support in arriving at the most appropriate treatment for your structure: classification of the structure’s bonds, equities, derivatives, financial guarantees and consideration of consolidation risks under relevant accounting frameworks.
Regulatory and Consulting
- Consulting: Being at the inception of your transaction, Mazars can help you assessing its risks and improving its management. Our experienced team can support you in a wide range of services including: operational monitoring and controlling, governance and risk management, third party audit, data analysis, IT security and service organisation control reports.
- Valuation services: A number of structures are built around complex financial instruments, which fair value is key to the preparation of the financial statements. Our specialist valuation team is composed of quantitative analysts that use robust tools for providing competitive valuation services. We are experienced in valuing any type of instruments, being plain vanilla to structured synthetic products.
- Regulatory compliance: In an increasingly regulated environment, Mazars can provide you with assurance in relation to relevant regulatory compliance.
A dedicated team of securitisation specialists
Mazars as an integrated partnership worldwide affords us a single team to respond to our clients’ queries in a clear and definitive manner, on a timely basis and to execute and deliver our services efficiently and effectively.
Through this unique platform, you will experience the following:
- An innovative approach to problem solving;
- An integrated team with specialised industry knowledge and technical expertise;
- Continuous, hands-on partner involvement;
- A highly responsive and dedicated multi-disciplinary team; and
- A strong commitment to providing tailored solutions to meet your needs.