The Banking practice combines industry knowledge, tax, regulatory and program management skills to deliver successful transformation programs.
The Banking practice combines industry knowledge, tax, and other skills
The Banking industry is currently going through significant change. Though most of this change is driven based on international pressures, the effects are impacting Banks within the Cayman Islands and across the Caribbean. Various acts and directives within the US and the EU have led to complex regulation and legislation facing a lot of banks across the region.
Throughout the international financial community, the Cayman Islands is recognized as a sophisticated, mature and diverse financial center. As a premier financial services jurisdiction, the Cayman Islands attract the world's leading accounting, legal and investment firms, and the banking industry remains a cornerstone of Cayman's success.
Currently, there are just under 600 banks and trust companies in the Cayman Islands, including 43 of the 50 largest banks in the world. Adherence to the regulatory standards of the Basel Committee on Banking Supervision is fundamental to the regulatory approach, and the Cayman Islands is an active member of the Basle Committee's Offshore Group of Bank Supervisors.
As one of the first international accounting firms to establish an office in the Cayman Islands in 1966, we have developed a long standing reputation as a leading service provider in the local Banking industry. We provide a range of services from conducting annual financial statement audits, to impact assessment studies of new US tax legislation, to the implementation of processes to meet the new Basel II standards that become effective in Cayman on January 1, 2011.
A global network can advise you on your operational and strategic business challenges and opportunities. We offer professional services in audit, tax and advisory to clients of all sizes, at local, national and global levels, from the largest global banks to small regional savings and loan businesses. With a wealth of industry experience and specialist knowledge, our local banking professionals can help you address your business needs.