How can we help you?
Badri Consultancy is an actuarial consulting company that facilitates the fulfillment of financial reporting criteria under International Financial Reporting Standards by conducting actuarial evaluations of employee benefits, including EOSB and other benefits listed under IAS 19.
- Actuarial valuations to determine the financial effects of the implementation of new schemes and systems or the various advantages of existing schemes (including one-time and recurring costs);
- Funding actuarial valuations for the assessment of surplus/deficit, evaluating the suitability of the existing unfunded plan, and suggesting adjustments if necessary.
- Assistance in selecting the benefits that are acceptable to the company’s goals, standards, and cost constraints.
- Assistance in the designing of an appropriate plan for the funding of start-up or benefit modification costs.
- Preparing cash flow estimates for employee benefit plans to support companies in the control of cash flow and budgeting.
- Prudent advice on the suitability of investment strategies adopted by financed schemes in the various approved instruments by evaluating their yields and accounting for cash flow criteria for benefit payments, etc.
- The actuarial valuation is based on the IAS-19 and US GAAP rules, including financial reporting to the Board of Directors and the firms’ management.
- Actuarial valuation of other miscellaneous activities, including termination of the fund/scheme, transfer of staff, merger of funds/schemes.
End of service benefits Saudi Arabia: Actuarial valuation of EOSB has now become mandatory for all the companies in Saudi Arabia after IFRS is implemented in the country.
End of service benefits UAE: New legislation, which was introduced on 1 July 2016, states that companies operating within the UAE are required to prepare their financial statements in compliance with IAS-19, including the Actuarial valuation of EOSB
Badri Consultancy is the leading actuarial services provider to many companies in the UAE & middle east region. We provide a wide range of actuarial services, including actuarial valuation of End of service gratuity and many more as per requirements.