External Audit services for Re-insurer

Descriptions

Statutory and Regulatory Audit Services 1) Statutory audit of Flood Re Limited in accordance with the UK Companies Act 2006. IFRS Financial Statement audit of Flood Re Limited - see background section for business information. 2) PRA Regulatory reporting under Solvency II. This will encompass all regulatory audit requirements as required by the PRA. The PRA is still yet to formally announce exactly which areas of Solvency II implementation and reporting will be subject to an audit, however for the purposes of fee estimation and approach as required for this tender, this is taken to include an audit of the Solvency II regulatory returns, Solvency II Balance Sheet and Own Funds' templates. Non-Audit Services 3) Sign-off to HMRC of Annual Tax Return* Review of Flood Re Limited statutory tax return for submission to Companies House. 4) Sign-off of reserving as not excessively prudent* *Dependent on the final implementation of EU regulation in the UK, Flood Re reserves the right to refrain from procuring these services from 2017 onwards. Additional non-audit services may be required and requested on an ad-hoc basis.