Insurance Companies

SPECIALIST SERVICES FOR INSURANCE COMPANIE

Welcome to Jinnah Chartered Accountants where we specialise in providing comprehensive professional services to licensed insurance companies in New Zealand. Our team of highly qualified and experienced professionals has extensive knowledge and expertise in the insurance industry, and we are dedicated to providing cost-effective and efficient solutions that meet the specific needs of our clients.

Professional Services

Financial Reporting and Analysis

We provide expert financial reporting and analysis services to help your insurance company stay compliant with the International Financial Reporting Standards (IFRS) and the regulatory requirements of the Reserve Bank of New Zealand. Our services include:

  • Financial Statement Compilation: We prepare and compile financial statements that meet regulatory requirements and accounting standards.
  • Review of Financial Statements: We review the financial statements of the insurance company to ensure accuracy, completeness, and compliance with regulations.
  • Consolidation of Financial Statements: We provide consolidation services for group companies and subsidiaries.
  • Communication with Stakeholders: We assist in the presentation of financial information to stakeholders, including shareholders, regulators, and other interested parties.

IFRS 17 implementation

Jinnah can help you to navigate the complexities of IFRS 17 implementation, ensuring compliance with the standard and a smooth transition to the new accounting requirements.

  • Impact Assessment: Evaluating the impact of IFRS 17 on the financial statements and on key financial metrics.
  • Project Management: Support in the implementation of IFRS 17, including project planning, monitoring, and reporting.
  • Data Management: Help to manage the data requirements of IFRS 17, including the collection, processing, and storage of data.
  • Accounting Policy Development: Facilitate to develop accounting policies and procedures that comply with IFRS 17 requirements.
  • System Implementation: Assist in the implementation of new systems and software required for IFRS 17 compliance.
  • Training and Support: Provide training and support to the finance and accounting teams to ensure that they have the knowledge and skills required for IFRS 17 compliance.

Tax Compliance and Planning

We provide comprehensive tax services to help you comply with tax regulations and minimise your tax liabilities. Our team can also provide tax planning advice to help you optimise your tax position.

Risk Management and Compliance

We can help you identify and manage risks associated with insurance operations. We can also help you comply with regulatory requirements and industry standards.

Advisory Services

Our team of professionals can provide strategic advice to help you grow and optimise your business operations. We can help you with financial forecasting, mergers and acquisitions, due diligence, internal control, and other strategic initiatives.

 

Benefits

  • Compliance: We can help ensure that your insurance company is compliant with all relevant regulatory requirements, reducing the risk of regulatory issues.
  • Industry Knowledge and Expertise: Our team has extensive knowledge and experience in the insurance sector. We understand the unique challenges and opportunities faced by licensed insurance companies in New Zealand.
  • Cost Savings: By outsourcing your accounting and financial services to us, you can reduce overhead costs, freeing up resources to invest in your core business activities.
  • Access to Latest Technology: We use the latest accounting and financial software and technology to ensure that your financial data is accurate, secure, and up-to-date.
  • Scalability: We can scale our services to meet the changing needs of your business. Whether you need additional support during peak periods or want to reduce your services during slow periods, we can accommodate your needs.
  • Efficiency: You can focus on your core business activities and leave the accounting and financial work to us. This can improve your productivity and efficiency.

Process

We follow a systematic process to ensure that we provide the most appropriate services to meet your specific needs. Our process includes the following steps:

  • Assessment: We will assess your accounting and financial needs and determine the appropriate services to meet your requirements. We will work with you to understand your business, financial goals, and challenges.
  • Proposal: We will provide a proposal outlining our recommended services, pricing, and terms and conditions.
  • Implementation: Once you accept our proposal, we will begin implementing the services, including setting up the necessary systems and processes.
  • Ongoing Support: We will provide ongoing support, including regular reporting, analysis, and communication, to ensure that your accounting and financial needs are met. We will also provide regular updates on the progress of the services.

At Jinnah Chartered Accountants, we understand the importance of accurate and timely financial reporting for your insurance company. By outsourcing your accounting and financial services to us, you can save time, reduce costs, and improve the quality of your financial reporting. Our professional services are customisable, flexible, and tailored to meet the specific needs of your insurance company. Contact us today to learn more about how Jinnah Chartered Accountants can help your insurance business streamline its accounting and financial operations.

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