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Increasingly, regulators and investors are requesting additional assurance on the internal controls in place in respect of the operations of and IT systems responsible for processing the investment products they invest in or regulate, extending from the fund management process and operations to the back office functions in terms of record keeping, safeguarding of assets and controls over IT systems and management.
Our investment management industry specialists have significant experience in assisting our clients in the investment management industry on carrying out diagnostic procedures with a view to benchmark your internal controls framework against industry best practice, designing and assisting in the implementation of appropriate control procedures.
We also act as independent reporting accountants for comprehensive reports on controls, commonly known is the U.S. as SAS 70 reports and in the U.K. as AAF 01/06 reports (which have superseded FRAG 21 reports). These reports, which can be used by third parties, are becoming increasingly popular among fund advisors and are seen by many as providing an additional competitive advantage to fund advisors in the marketing of the investment products. |
