Israel

Financial Services 

KPMG Somekh Chaikin’s main business focus is the Financial Services industry, an area in which it has established itself as a leader in Israel and abroad.
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Eileen Toledano
Head of Financial Services

+972 (3) 684 8120

The financial services industry is characterized by complex accounting issues, tight regulation, and rapid developments in capital markets, making it one of the most challenging to serve – recent economic conditions have added greatly to the challenge.

 

KPMG member firms collectively employ approximately 10,000 professionals to manage financial services clients. Of these, approximately 5,000 are dedicated to banking clients.

 

The seven partners and over one hundred employees managing KPMG Somekh Chaikin’s Financial Services Department also draw on the accumulated knowledge of KPMG Global to offer a variety of services to leading Israeli financial institutions from the areas of banking, insurance, provident funds, and pension and other funds.

 

We assist clients in implementing regulatory instructions and complex accounting rules such as:

  • The Supervisor of Banks regarding problematic debt
  • Basel 2
  • Measurement of fair value – FAS 157 and implementation of alternative fair values – FAS 159
  • Government corporations
  • IFRS
  • Financial risk management

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Frontiers in finance

Frontiers in finance
In this edition of Frontiers in Finance we discuss how organizations should manage their operations, amid impending regulatory reform and changing business models in banking.