Michał Tomczyk
Partner in Audit Department, Polish Certified Auditor
BDO works with financial institutions by performing audits and reviews of financial statements, as well as advisory services in various areas. Having a large number of specialists enables us to work with institutions from the most critical areas of the world of finance. Our long-standing clients include banks, insurance companies, investment fund companies and investment funds, universal pension fund companies and pension funds, as well as banking group companies that provide leasing and factoring services. We are proud of the confidence placed in us by globally known multinationals, but also by smaller entities operating on the local Polish market. Our priority is to provide work of the highest quality to the satisfaction of our clients, which is why our wide range of clients includes large insurance companies and funds that manage amounts going into billions, as well as small branches of foreign banks.
Our knowledge and experience also translate into an extensive array of advisory services we can provide primarily to clients from the financial sector, as well as to others. In many areas we work with clients from other industries, including those listed on the Warsaw Stock Exchange. Our advisory services include:
Our knowledge and experience also translate into an extensive array of advisory services we can provide primarily to clients from the financial sector, as well as to others. In many areas we work with clients from other industries, including those listed on the Warsaw Stock Exchange. Our advisory services include:
- Model risk management, including in particular advisory on model risk and ECL, support for the internal audit function during ECL model audits, optimizing the process of managing model risk and complying with Recommendation W requirements, validation of stable deposit forecast models in the process of liquidity risk management, validation of credit risk scoring and rating models, review of credit risk scoring and rating models, as well as model risk management training and workshops.
- Valuation of financial instruments and hedge accounting. In this area we support our clients in the preparation and verification of financial instrument valuations, assessment of the accuracy and quality of valuation models, preparation of documentation, efficiency testing and implementation of hedge accounting, valuation of management options and incentive programs in accordance with IFRS 2, as well as validation of derivative instrument valuation models.
- Actuarial services, which include setting the amount of provisions for employee benefits, independent validation of technical provisions and solvency capital requirements, as well as improvements to the calculation process of technical provisions and solvency capital requirements.
