Smart appointment at KPMG
Big Four firm promotes financial services expert Phil Smart to head of its insurance technical advisory arm
KPMG has selected Phil Smart to
head up its insurance technical advisory group.
Smart, a veteran of the firm’s financial services practice with more than
twelve years experience in the insurance market, has been given a remit to lead
KPMG’s services on the accounting and regulatory changes that are currently
impacting the industry such as the
European
Directive on Solvency II, and the release of the Phase II accounting model
for insurance contracts, which will replace IFRS 4 insurance contracts, issued
in 2004.
Smart, who has been with KPMG for sixteen years said: ‘Between now and the
end of the year will be a crucial consultation period in the insurance world, as
we approach the implementation of these important changes to reporting.’
‘We’ll be talking to the industry and standard setters on all of these
developments, not only from an insurance perspective, but also as part of the
wider global debate that the accountancy industry is engaged with on the future
of financial reporting, and the dialogue between rules and principles-based
regulation.’