SEC Underscores Auditor Independence Ahead of PE Rule Change

Oct. 9, 2020, 7:14 PM

Auditor independence is a shared responsibility for executives and auditors, and that’s especially true for investment companies that are made up of a web of funds and entities, an SEC official said.

Alison Staloch, chief accountant for the Division of Investment Management at the Securities and Exchange Commission, reminded fund managers that because of how private equity funds are structured, agency rules on auditor independence have a specific definition for investment company complexes, or ICCs.

  • “Boards, management, and auditors of all entities including ICCs should all be focused on understanding the complex, or the capital structure, the changes to ...

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