Abu Dhabi, UAE, 5 September 2023: Equevu, a leading actuarial consulting and workplace savings solution technology platform, introduced today its Actuarial Consulting Services for End-of-Service Benefits.
This innovative offering is poised to redefine financial planning and compliance for businesses across the Gulf region by ensuring adherence to international financial reporting standards (IFRS).
“As companies worldwide transition towards International Financial Reporting Standards (IFRS), Equevu takes the lead by launching its Actuarial Consulting Services. Tailored specifically for the unique requirements of the GCC, this service offers meticulous actuarial valuations of employee benefits, ensuring alignment with IAS19R,” said Jihad El Salah, Co-founder and lead actuary at Equevu.
Embracing IFRS compliance offers companies a range of benefits, including unifying the quality of financial information for enhanced transparency and comparability on an international scale. This transparency fosters safe and informed economic decision-making for investors and market participants. Moreover, IFRS adherence promotes accountability by providing upper management with the necessary information to responsibly manage resources entrusted by investors. The streamlined communication facilitated by IFRS creates a more efficient and cost-effective reporting process, transcending geographical boundaries.
Equevu’s Actuarial Consulting Services specializes in guiding businesses through the intricacies of IAS 19R, the cornerstone of IFRS compliance. IAS 19R mandates actuarial valuations of long-term employee benefits, a critical element in assessing the financial sustainability of any entity. Our seasoned international actuaries delve into historical data, demographic and financial assumptions to deliver accurate valuations.
“Equevu’s qualified international actuaries, backed by a decade of experience in renowned global firms, provide credible and reliable assessments. The seamless process begins with instant pricing, ensuring swift decision-making. With a quick turnaround time, businesses receive their signed actuarial report within 72 hours, facilitating timely fiscal-year-end actions,” added El Salah.
Equevu’s Actuarial Consulting Services for End-of-Service Benefits offer a transformative approach to financial transparency and compliance by equipping businesses with insights, projections, results, and comprehensive reports.
“Guiding businesses through the complex terrain of IFRS compliance, Equevu’s Actuarial Consulting Services unlocks financial insights that drive strategic decisions and ensure compliance with IFRS (IAS19),” concluded Hazem Abdel Rahman, Fellow Actuary and CEO at Equevu. “With a commitment to precision and innovation, we empower organizations to navigate the IFRS landscape seamlessly and achieve financial clarity and compliance.”
Equevu represents two synergistic entities: Equevu Ltd, a technology company in Abu Dhabi Global Market, and Equevu Consulting Services FZC in Sharjah Publishing City. The brand delivers a comprehensive suite of services that include technology-driven workplace and personal savings systems, corporate financial literacy programs, as well as specialized actuarial consulting services focusing on end of service benefits. Adhering to international best practices and supported by reputable regional investors, Equevu strives to promote access to financial prosperity. Please note that Equevu does not engage in any financially regulated activities.