2022 Investment Companies - Audit and Accounting Guide
This annual guide is directed primarily to aspects of the preparation and audit of financial statements unique or significant to investment companies.
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Understand the complexities
Whether you are a financial statement preparer or auditor, it is critical to understand the complexities of the specialized accounting and regulatory requirements for investment companies.
Packed with continuous regulatory developments, this guide covers:
- How-to accounting and authoritative auditing advice
- Implementation guidance
- Illustrative financial statements and disclosures
- Illustrative auditor reports
- Regulatory guidance applicable to investment companies
2022 updates include changes to the following:
- General auditing content and independent auditor’s report illustrations affected by recently issued SASs, such as SAS Nos. 142–145, and related guidance
- References to appropriate AICPA Technical Questions and Answers that address when to apply the liquidation basis of accounting.
- Appendixes discussing the new standard for financial instruments, common or collective trusts, and business development companies.
- The latest auditing and regulatory guidance specific to investment companies.
- Background on the investment company industry as well as interpretive guidance for both new and existing rules.
- Best practice discussion provided on several new and recurring complex industry-specific issues, including investment valuation, financial instruments, capital accounts, BDCs, master-feeder funds, multi-class funds, UITs, separate accounts of life insurance entities, and many more.
- Illustrative reports on examinations of securities and controls at a custodian pursuant to Rule 206(4)-2 of the Investment Advisers Act of 1940.
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