Securitisation

The securitisation industry is a fast-growing and innovative environment and regulations are also getting tighter in the form of International Financial Reporting Standards, Basel II, US GAAP and FIN 46 (R). Companies need professional advisors who offer solutions to an ever-changing and challenging market, who also ensure that companies are fully compliant with all relevant regulatory, accounting and taxation requirements.

We act for Irish, European and International Financial Institutions and 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.

Structures we have assisted in an audit or advisory capacity include:

  • Credit Linked Notes
  • Collaterised Debt Obligations
  • Collaterised Loan Obligations
  • Asset-Backed Securities
  • Residential/Commercial Mortgage Back Securities
  • Catastrophe Reinsurance and Risk Transfer Linked Securitisations
  • Repackaged Financial Instruments
  • Synthetic Securitised Structures

Audit & Assurance

  • Statutory/Contractual audit - our audit and assurance teams have significant experience of the audit issues relevant to SPVs, Covered Bonds and other securitisation entities. We work with all of the leading Corporate Services Providers in Ireland.
  • Asset Pool Monitoring – Mazars currently act as Cover Asset Monitor to a number of issuers of covered bonds in Ireland, Italy and France.
  • Valuations: Our specialist valuation team is composed of quantitative analysts who use bespoke tools for providing competitive valuation services. We value most type of instruments, from vanilla to structured synthetic products

Taxation

  • Corporate tax compliance and advisory.
  • Provision of support in relation to the requirements of an S.110 company carrying on a specified property business as defined, and deductibility of interest based around the circumstances of the note holder or the profile of the securities issued.
  • VAT compliance and advisory, including maximisation of VAT recovery rates, ensuring reverse charge requirements are met and VAT recovery apportionment.

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