UNSECURED LENDING The unsecured lending industry in South Africa comprises several niche lenders who provide loans and advances to mainly lower income clients.With the recent introduction of IFRS 9, lenders operating in this industry needed to revisit their existing provisioning methodology, as the components of the Expected Credit Losses (ECL) model require specific behavioural and credit risk changes to be built into the credit models. Our team has the technical and practical competence to assist lenders with audit and advisory services related to this, including the key component of credit modelling. Our services include the following: Financial statement audits Review of credit modelling methodology of the impairment models Testing of the ECL models Taxation, specifically new legislation in line with the Tax Laws Amendment Bill and new s11j provisions Data integrity reviews of client systems to respond to input, processing and output data risks
KEVIN HOFF FINANCIAL SERVICES SECTOR HEAD FOR BANKING E: khoff@bdo.co.za T: +27 (0) 11 481 3008
Kevin has a 14-year demonstrated history of working in the financial services industry in South Africa and across the African continent. He is skilled in audit and consulting in the fields of banking, investment management, corporate treasury, stockbroking, financial risk management, financial engineering and related financial instrument accounting and fair valuations.
Kevin leads the Financial Services division and Specialised Valuations Group across Gauteng for BDO South Africa.
Qualifications: CA(SA) CFA
BDO FINANCIAL SERVICES 13
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