Your industry standard resource.
- 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.
Who Will Benefit?
- This comprehensive guide has been designed to be beneficial for a wide range professionals, including those within the investment company industry, as well as those practicing 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).
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.
Your industry standard resource, this 2019 edition supports practitioners in a constantly changing industry landscape. Packed with continuous regulatory developments, this guide covers:
- Authoritative how-to accounting and auditing advice, including implementation guidance and illustrative financial statements, and disclosures;
- Details on the changes to illustrated financial statements and disclosures resulting from guidance that was recently-issued or became recently effective (for example, SEC's release, "Disclosure Update and Simplification").
2019 updates include:
- References to appropriate AICPA Technical Questions and Answers that address when to apply the liquidation basis of accounting.
- Appendices discussing the new standard for financial instruments, common or collective trusts and business development companies.
Finally, the guide features a schedule of changes which identifies where to find updated content and the associated reasons for the changes.