Safeguard the smooth financial compliance of our Company’s Provident Fund
In an ever increasing complex environment in which Provident Funds operate with a view of increasing returns to members whilst managing the risk associated with such investments, PwC has the unique position to assist Provident Funds safeguard the financial compliance.
Potential issues
You are proceeding with the incorporation of a new Provident Fund and need our support to seamlessly draft the regulations of the Provident Fund and facilitate its registration with the Registrar of Occupational Retirement Benefit Funds;
You want to outsource the accounting process of your Provident Fund and enhance the quality and timeliness of financial and management information packages;
You do not have the technical skill in-house to prepare statutory accounts in line with IFRS and applicable legislation requirements’
You are missing statutory filing deadlines and expose members of the Administrative Committee to court proceedings;
You need some support in effectively managing Administrative Committee meetings and safeguarding the Provident Fund’s compliance with applicable legislations;
You are looking into embedding some best practices in the overall governance of your Provident Fund
How can we help?
We can help you across a broad range of Provident Fund accounting and governance services, such as:
Accounting and Administration function: Providing you with a complete hassle-free finance function outsourcing for your Provident Fund from bank reconciliations to management reports, to liaising with external investment managers and auditors, preparing financial reports for management meetings and arranging periodic distribution calculations to members and circulating Member Statements
Support your in-house finance function: helping you improve the quality of the Provident Fund’s financial reporting by developing the knowledge and expertise of your in-house finance function;
Financial Statements: Assisting with the preparation of the Fund’s statutory financial statements (in accordance with IFRS) to ensure they are prepared in advance of filing deadlines and are available for management.
Management Information: Present the Provident Fund’s financial performance in a complete and comprehensive manner, focusing on what is important for the maximization and sustainability of members’ returns
Assistance to the Administrative Committee: Assisting the Fund’s Administrative Committee in safeguarding its compliance with applicable Provident Fund legislation and embedding best practices in the governance and financial management of the Fund’s assets.
