Investment Companies - Audit and Accounting Guide
Your industry standard resource, this annual guide supports practitioners in a constantly changing industry landscape.
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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.
2021 updates include changes to the following:
- General auditing content and independent auditor’s report illustrations affected by recently issued SASs such as SAS No. 134 and related guidance
- Regulatory content affected by recently issued SEC Releases such as SEC Release No. IC-34128, “Good Faith Determination of Fair Value.”
- This comprehensive guide has been designed to be beneficial for a wide range of professionals, including preparers within the investment company industry and auditors in small, regional, and large accounting and auditing firms. The guide provides auditing considerations applicable for practitioners conducting audits of both registered and nonregistered investment companies (i.e., AICPA and PCAOB audits).
- 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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