George W. Prieksaitis
Partner, FSO Financial Accounting Advisory Services Leader, EY

Relevant Experience:

  • Over 23 years of experience with a focus on financial services clients, with a strong background in derivative valuation, complex financial instruments, mortgage and retail banking, merchant banking, loan loss accounting, leasing and securitization & de-recognition issues.
  • Currently an E&Y Canada member of our Global Financial Instruments Working Group, Fair Value Subject Matter Group, and Global Leasing Subject Matter Group
  • Recently selected by the International Accounting Standards Board as a member of the IFRS 9 Impairment Transition Resource Group – expert in credit risk and impairment accounting under both IAS 39 and IFRS 9 Financial instruments standards.
  • Extensive experience in capital markets transactions, including prospectuses and initial public offerings and also in working with Board of Directors on corporate governance matters.
  • Extensive experience in corporate lending, derivative, and broker-dealer operations through the wholesale banking segment of The Toronto-Dominion Bank from 2002 to 2011, retail banking operations in TD Canada Trust and its various subsidiaries, and broker businesses like TD Securities Inc. and TD Waterhouse Canada. Also managed securitization trust audits for TD’s Asset Securitization Group (ASG).
  • Coordinating partner on the Canadian banking operations of many multinational entities including Walmart Bank Canada, Rabobank Canada, Comerica Bank Canada, Manulife Financial Corporation (including Manulife Bank of Canada), Bank of China, Intesa Bank Canada and the Bank of New York Trust Company of Canada.
  • Independent review partner on Home Capital, Laurentian Bank of Canada, and Mizuho Bank Canada.
  • Also worked on the audit of the investment and derivative operations of insurance companies like London Life Insurance Company and Canada Life Assurance.
  • Worked with many Canadian financial institutions on accounting advisory assignments, including Royal Bank of Canada, Bank of Nova Scotia, Wells Fargo, Agricultural Bank of China, MCAP, Industrielle Alliance, and various captive automotive and equipment financing entities.
  • Extensive experience during 2009, 2010 and 2011 in helping clients listed above as they converted to International Financial Reporting Standards from Canadian GAAP.
  • Coordinated audit services for the wholesale segment of The Toronto-Dominion Bank, operating in 12 different countries, that includes the audit of derivative, fixed income, foreign exchange and equity trading and institutional brokerage businesses.
  • Also coordinated the audit of internal controls (SOX 404) and loan loss accounting for all of TD Bank that included mortgage origination and monitoring, securitization to CMHC and various conduit programs, credit risk rating and loan reviews, and loan trading segments.
  • Participated in the Standard Trust and Standard Loan seizure by OSFI in early 1990s and ran two branches during initial months of the liquidation in south western Ontario.