The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

PwC Audit Picks SuperDerivatives for Derivatives Revaluation Audits for CEE

PricewaterhouseCoopers (PwC) Audit, a member firm of the PwC global network, has selected SuperDerivatives to assist in providing derivatives revaluation audits for clients across Central and Eastern Europe (CEE). The firm indicates that the new service is a reaction to the demand from customers in the region for real-time revaluation of derivatives structures associated with clients’ portfolios.

The introduction of regulatory framework has reduced risk and allowed the derivatives marketplace in the region to mature, says PwC.

The firm will be using SuperDerivatives’ revaluation service to support auditing activities across the CEE region. PwC hopes that the vendor’s SD-Revaluation service will provide accurate revaluations, enabling it to check clients’ compliance with accounting regulations such as FAS 133 and IAS 39.

Paul Facer, director of Assurance PwC Audit, explains: “In the current volatile marketplace, accurate revaluation of OTC derivatives is one of the top concerns of our clients. Loss of funds as a result of inaccurate pricing can have a massively adverse effect on the value of a company’s portfolio.”

Facer says that PwC chose SuperDerivatives because of its wide coverage of a broad range of vanilla and advanced financial instruments. “This allows us to respond to the challenges brought about by the increasingly complex portfolios of our clients in the CEE region, thereby enhancing the quality of our auditing,” he adds.

Related content

WEBINAR

Upcoming Webinar: Brexit: Reviewing the regulatory landscape and the data management response

Date: 11 May 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes With Brexit behind us and the UK establishing its own regulatory regime having failed to reach equivalence with the EU, financial firms face challenges of double reporting, uncertainty about UK regulation, and a potential exodus of top talent. The...

BLOG

DANIE Consortium Uses Game Changing Privacy Enhancing Technology to Improve Client Reference Data Quality

The DANIE consortium set up to help financial institutions improve the quality of their client reference data by benchmarking data with peers without revealing data sources and with encryption, is calling for banks to confirm places in its 2021 community by 18th December 2020. You can find out more and sign up by contacting community@danie.tech....

EVENT

RegTech Summit APAC

RegTech Summit APAC will explore the current regulatory environment in Asia Pacific, the impact of COVID on the RegTech industry and the extent to which the pandemic has acted a catalyst for RegTech adoption in financial markets.

GUIDE

Data Lineage Handbook 2019

Welcome to our latest handbook on data lineage, a critical concern for data managers working to achieve regulatory compliance, deliver operational gains, and provide meaningful value to the business. The handbook covers the complete scope of data lineage, with a view to helping you win management buy-in and budget, decide whether to build or buy...