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.
Expert Panel Projects
October 2016 Investment Companies Technical Questions and Answers, now available in the AICPA publication AICPA Technical Questions and Answers
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)
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)
Industry News and Resources
The SEC Office of Compliance Inspections and Examinations announced its 2019 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
- AICPA Audit and Accounting Guide Investment Companies
- FASB Accounting Standards Update No. 2013-08
- SEC Final Rule IA-2968, Custody of Funds or Securities of Clients by Investment Advisers
- AICPA Audit Risk Alert Investment Companies Industry Developments: “SEC Staff Comments and Observations” from 2008/2009 through 2013/2014
Past Meeting Highlights
2018 and Prior:
2003-2010 archived meeting highlights (updated February 2018)
Irina Portnoy, Senior Manager
Members of the Expert Panel
Michael Charles Barkman, Chair, Ernst & Young LLP
Heather Bonner, AQR Capital Management LLC
Christopher Brabham, PricewaterHouseCoopers LLP
James V. Carey, Grant Thornton LLP
Rajan D. Chari, Deloitte & Touche LLP
Toai P. Chin, Vanguard Group Inc.
Martin Davidson, TPG Capital LP
Jason Kellogg, RSM US LLP
Brent D. Oswald, KPMG LLP
Charles Pulsfort, BlackRock Inc.
Tracy Stelk, Millennium Management LLC
Dale K. Thompson, BDO USA, LLP
Kristin Van Dask, Prospect Capital Corporation