Expert Panel - Investment Companies

About the Expert Panel

The Investment Companies Expert Panel serves the needs of AICPA members on financial and business reporting and audit and attest matters. The expert panel protects the public interest by bringing together knowledgeable parties in the investment companies industry to deliberate and come to agreement on key investment companies issues.

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Expert Panel Projects

October 2016 Investment Companies Technical Questions and Answers, now available in the AICPA publication AICPA Technical Questions and Answers

Illustrative Auditor’s Report on the Financial Statements of a Nonregistered Investment Company—Unmodified Opinion (revised to conform with the clarified SASs)

August 17, 2015, comment letter on the Securities and Exchange Commission‟s (SEC or Commission) proposed rules Investment Company Reporting Modernization (IC proposal) and Amendments to Form ADV and Investment Advisers Act Rules (IA proposal)

February 23, 2015, comment letter on the Proposed Accounting Standards Update, Financial Services—Investment Companies (Topic 946): Disclosures about Investments in Other Investment Companies

Illustrative Report of Independent Accountant on Examinations of Securities Pursuant to Rule 206(4)-2 of the Investment Advisers Act of 1940” (Revised October 26, 2017)

Illustrative Report of Independent Registered Public Accounting Firm on Management’s Assertion Regarding Controls at a Custodian Pursuant to Rule 206(4)-2 and Release No. IA-2969 Under the Investment Advisers Act of 1940 (Revised October 10, 2017)

Frequently Asked Questions Regarding the SEC’s Revised Custody Rule and Guidance for Accountants (developed by the AICPA Investment Companies Expert Panel)

 

Industry News and Resources

The SEC Office of Compliance Inspections and Examinations announced its 2020 examination priorities for investment advisers and investment companies, broker-dealers, transfer agents, clearing agencies, private fund advisers, national securities exchanges, and municipal advisors.

Expert Panel Recommended Guidance

Publications

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2021 meeting highlights:

March 22-23, 2021 meeting highlights

January 19 and 27, 2021 meeting highlights

2020 and Prior:

2018-2020 archived meeting highlights

2011-2017 archived meeting highlights

2003-2010 archived meeting highlights (updated February 2018)

Staff Contacts

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Irina Portnoy, Senior Manager

Members of the Expert Panel

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Christopher Brabham, Chair, PricewaterHouseCoopers LLP

Heather Bonner, AQR Capital Management LLC

James V. Carey, Grant Thornton LLP

Rajan D. Chari, Deloitte & Touche LLP

Toai P. Chin, Vanguard Group Inc.

Aly Cottam, Cohen & Company

Martin Davidson, TPG Capital LP

Jaime Eichen, Ernst & Young LLP

Matthew Maulbeck, EisnerAmper LLP

Brent D. Oswald, KPMG LLP

Charles Pulsfort, BlackRock Inc.

Debbie Scanlon, BKD, LLP

Tracy Stelk, Millennium Management LLC

Dale K. Thompson, BDO USA, LLP

Kristin Van Dask, Prospect Capital Corporation

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