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Ernst & Young Monthly News August 2008

Publications

Tax Documentation goes global

(PDF, English, 732 kB)

The thesis of this paper is that, in an era of globally integrated businesses, continuing demands for strong financial performance, and responsible risk management of tax planning and reporting activities, a comprehensive tax documentation and retention policy is increasingly vital for multinational organizations.

Grasping the reins of fundamental change – EY's comments on SII draft directive

(PDF, English, 2.57 MB)

Solvency II will alter the ways insurers are supervised and should ultimately lead to a more efficient global insurance market. However, inconsistencies in the latest draft directive may lead to conflicting interpretations and arbitrary treatment of insurers. We explore the directive’s main components and offer our assessment.

Solvency II – Raising the bar

(PDF, English, 1.53 MB)

Insurers that embed well-designed internal models into their risk management system can provide real-time, relevant information to drive business decisions and boost market leadership. Learn how to “raise the bar” and integrate Solvency II, using precedents set by Basel II and the Swiss Solvency Test.

QIS 4 – Shifting the focus from consultation to implementation

(PDF, English, 269 kB)

Insurers that participate in Solvency II’s Quantitative Impact Studies (QIS) not only influence the debate, they get a valuable opportunity to assess their own level of preparedness. In this report, we bring you up to speed on key lessons learned from QIS 1, 2 and 3, and highlight the issues being addressed in QIS 4.

2008 Insurance Risk Leadership Survey

(PDF, English, 457 kB)

Moving to the next level – a progress report on insurance risk leadership.

Insight for Executives in Financial Services – Summer 2008

(PDF, English, German, French, 3.08 MB)

Ernst & Young creates EMEIA and a Pan-European Financial Services Organization / Risk Convergence in Financial Services / Environmental Banking / Asked: Brady W. Dougan, CEO, Credit Suisse Group.

Japanese Style Family Office in the Global Environment (Japanese Edition)

(PDF, Japanese, 264 kB)

This speech, held by Dr. Katsura Suzuki at the SAAJ PB Seminar, compares the differencies between Family Office in USA and Switzerland on the one hand, and the Japanese Family Office on the other hand.

How do private equity investors create value? – Beyond the credit crunch

(PDF, English, 3.57 MB)

Despite the credit crunch, the enterprise value growth of private equity-owned businesses firms outperformed that of the public companies for the third consecutive year, according to Ernst & Young’s global study of the 100 largest private equity exits in 2007.

German private equity activity June 2008. Early signs of recovery?

(PDF, English, 3.43 MB)

The study provides an insight into the state of the private equity market in Germany in the first half year 08.

European embedded value results – 2008 year-end

(PDF, English, 1.70 MB)

In last year’s report we gave our thoughts on where the industry was likely to move in terms of European embedded value (EEV) reporting development. The industry has recently fi nalised its own guidance on calculating market consistent embedded values (MCEV), releasing the CFO Forum Principles on MCEV in June 2008.