Non-government pension funds practice

Our services

Diagnosing existing management accounting systems
Developing detailed solutions for optimising accounting systems
Providing methodological support and control over changes made to accounting systems
Benchmarking
Holding training sessions for client employees on applying IFRS
Assisting in preparing IFRS financial statements
Developing efficient solutions for complex auditing issues
Optimising business processes and document flow to ensure the timely submission of accounting data
Conducting audits
Automating the preparation of IFRS financial statements (Caseware)

Modelling future cash flows
Estimating obligations under Mandatory Pension Insurance and Non-Government Pension Security programmes.
Developing tariffs
Testing profits
Reviewing the adequacy of generated obligations
Estimating embedded financial instruments and guarantees
Modelling for ALM purposes

Providing valuation and accounting methodology
Trainings on actuary models and their implementation
Designing pension schemes based on cash flow forecasts
Accounting and reporting in NGPFs in accordance with new regulations from the Bank of Russia (chart of accounts for NGPFs; industry accounting and statutory accounting (financial) statements standards in NGPFs; other industrial accounting standards)
Application of IFRS in preparing statutory accounting (financial) statements for NGPFs

Developing internal regulations: accounting policies, working chart of analytical accounts, business entity’s standards, internal forms of management reporting and statutory (accounting) financial statements
Developing regulations for accounting and preparing financial statements
Providing methodological support for complex issues related to accounting, asset and liability evaluation, and disclosures
Reviewing compliance of the fund’s internal regulations with the regulations of the Bank of Russia. Analysing internal regulations for their consistency with IFRS principles
Preparing recommendations related to adjusting the preparation of financial statements
Drafting recommendations for process optimisation and speeding up processes for the preparation of financial statements

Diagnosing IT systems
Developing the terms of reference (functional and technical requirements) to improve information systems
Automating the process of preparing financial statements and other mandatory reporting forms

Assessing the quality of existing data (completeness, consistency, etc.)
Assisting in writing the terms of reference for the integrator. Developing models of correlations between data-model elements for the transition from the old to the new chart of accounts.
Testing migration results and data-transfer completeness

Developing methodological basis for transfer to a new accounting system
Reviewing compliance of the delivered functionality with business requirements and terms of reference, including compliance of the implemented entry-generation logics with the accounting policy and IAS
Assessing the adequacy of controls performed on data consistency in the source system and the new system
Reviewing the performance of the implemented solution
Evaluating the performance of the project office

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Maria Bogomolova

Partner, Assurance and Consulting Services Leader to the Insurance Sector in Russia, PwC Russia

Tel: +7 (495) 967 6034