BDO tops league table as #1 Model Auditor of the year

BDO tops league table as #1 Model Auditor of the year

Accounting and business advisory firm BDO’sFinancial Model Assurance Services (‘FMAS’) team has been recognised as the top Model Auditor of the year for 2022 for the Europe and Africa regions<.

This is the third time FMAS has won this particular award in the past six years, further reinforcing the team’s market-leading position and commitment to quality in providing model assurance on the biggest and most high-profile project financings across all regions and sectors.

IJGlobal referred to model audit as an essential (and often unsung) role in bringing greenfield project finance transactions to a successful conclusion. The judges noted that BDO ​continued to support a wide diversity of projects, including one of the year’s standout projects, Neuconnect. This project is the first electricity interconnector between the UK and Germany, and this deal received the IJGlobal European Power Deal of the Year 2022 award.

The judges commented that:

“As usual, an excellent submission from BDO setting out a comprehensive capability statement, plus three unique transactions. Each transaction had a different set of challenges and uniqueness in their own right.” 

One judge said: “Most certainly I will remember the submission as breaking new ground in the infrastructure sector with cheese project financing.” 

The cheese project financing relates to our work supporting the expansion of dairy production facilities for Epiim, Estonia’s largest producer of cheese and dairy products, and follows on from our support of a mozzarella production facility in the Netherlands.

Kirit Mistry, Partner and Head of Financial Model Assurance, commented:

“We are delighted that the judging panel comprising a broad range of project finance, renewable and infrastructure leaders has recognised our sector expertise and willingness to invest time in developing good relationships with key stakeholders, as well as supporting innovative projects and new initiatives, which have positively impacted upon communities across both Europe and Africa.”

IJGlobal, as part of Euromoney, is a leading worldwide infrastructure and project finance news portal and largest deal database. It tracks projects throughout the lifecycle, providing detailed information on financial structure, policy, pricing and key players influencing transactions and trends. IJGlobal’s clients include equity providers, funds, institutional investors, lenders, multilaterals and export credit agencies, governments and advisers.

Find out more about BDO’s Financial Model Assurance service or contact the team to discuss.