Stephen D. Smith

Partner, Audit, Financial Services

KPMG in Canada

Stephen is a partner in KPMG’s financial services audit practice, specializing in insurance. His broad range of engagement experiences include financial statement audit, accounting advisory, financial due diligences, operational efficiency and risk management. Stephen provides audit and business advisory services to financial services clients. His client focus is in the insurance sector with clients including life insurers, property and casualty insurers, reinsurers and brokers. Stephen's experience also includes leading financial statement audits, advising on accounting changes, financial due diligence, operational process analysis, risk management, and regulatory reporting.

Stephen has significant experience with financial statement audits of domestic and multi-national P&C and Life insurers leading a team in planning, executing the audit strategy and reporting to those charged with governance.  In addition, Stephen has worked on group audits as both a group auditor and component auditor. As an active member of KPMG’s Canadian Insurance Contract Technical Topic Team, he is also involved in accounting advisory work and has worked closely with clients on IFRS accounting standards changes. As well, Stephen has presented at a number of conferences and seminars on financial reporting standards and developments. Stephen is familiar with federal and provincial regulatory reporting requirements applicable to insurance companies.

Additionally, Stephen has experience with financial due diligence projects related to acquisitions in both P&C and Life insurance, and reviewing business plans and financial projections for insurance operations. He has advised insurers in relation to regulatory and risk management, including implementation/enhancements of own risk and solvency assessments “ORSA”. Stephen is also very knowledgable about process and controls analyses, including efficiency and effectiveness of controls over financial reporting.

  • Honours Bachelor of Commerce (Hons), McMaster University

  • Public Accounting License, Ontario

  • Canadian Chartered Professional Accountant (Ontario), Chartered Accountant