Audit & Assurance

Customized Audit & Accounting Pronouncements

Akram & Associates analyzes each client's business, including the market factors and industry trends, to deliver customized audit and accounting pronouncements based on real-world business needs.

Our CPA Firm's system of audit quality control for its nonpublic company accounting and auditing practice is subject to external peer review triennially and our most recent peer review report, and the AICPA’s acceptance letter of our peer review, is available below.

Smaller funds should choose audit firms that best suit their needs. When it comes to choosing an audit firm, bigger doesn’t necessarily mean better. Small- and medium-sized hedge funds can be better served by small- or medium-sized audit firms that provide more individualized service and charge lower fees. Many of the well-publicized undetected frauds of the last decade were perpetrated by large hedge funds audited by big-four audit firms. Conversely, it was ridiculous that big funds and broker dealers operated by Bernie Madoff and Russell Wassendorf of PFG and Peregrine could use a one-partner shop audit provider for a very long time. That didn’t make sense.

Audits are formal, technical, and Industry-specific. Investors are looking for assurance from a respected and independent CPA firm with significant experience, qualifications and a good brand name in performing audit engagements of alternative investment funds and managers. Audit work is dictated by GAAS and industry guides like the AICPA Audit Guide of Investment Companies. Financial statements for hedge funds have different disclosure requirements from those prepared for service companies or manufacturers. Experience in the investment management industry is needed in order to prepare or review the financial statements.

Efficient, Cost-Effective Audit & Assurance Services

The firm's extensive experience and trained personnel allow our CPA Firm to conduct audits very efficiently and cost effectively. We demand the highest level of work ethic and pride ourselves in maintaining significant personal contact with our clients and staff throughout the audit process. Our experience allows us to perform extensive audit and assurance services that are reliable and unbiased.

Our auditing services include:

  • Audits in accordance with generally accepted accounting principles and in the case of commodity pools, CFTC and NFA guidelines
  • Examinations and reviews of historical performance records in accordance with Global Investment Performance Standards (GIPS) and Commodity Futures Trading Commission (CFTC) standards
  • Surprise custody verification or examination of Registered Investment Advisers (“RIAs”) that have custody are required to obtain an annual surprise examination by an independent accounting firm.  Our Firm provides surprise custody examinations to RIAs subject to the Rule 206(4)-2 (the “Custody Rule”) of the Investment Advisers Act of 1940 . The Custody Rule is one of the most important rules designed to protect advisory clients from the misuse or misappropriation of their funds and securities. Minimum surprise examination requirements include, but not limited to, the examination of the books and records as they relate to the RIA’s custody and confirmation with the qualified custodians and clients.
  • Cryptocurrency audits are needed more and more as investment managers open crypto-funds or add crypto-assets to their portfolio. The need to verify the existence and value through audit of these crypto-assets becomes integral to attracting new investors to your fund.

All Types of US Fund Services

We have extensive experience working with all types of funds from master-feeder to side-by- side structure, and fund of funds. In addition, we work with clients to provide assistance with the language contained in the private placement memorandum, limited partnership agreements, subscription / redemption agreements, and operating agreements.

Offshore Fund Services

Should you be interested in going offshore for a new fund, we can introduce you to entities within our securities industry network that specialize in this arena and will assist you with legal start-up, administration and IFRS. We assisted offshore funds to domicile in Brithish Virgin Islands, Cayman Islands, and Bermuda.

Contact Us Today

Call us toll-free at 844-386-3829, or use the form on this page to schedule a free consultation. Akram & Associates is ready to assist you with all of your Fund needs. 

Member AICPA          Member PCAOB

Member CalALTs          Member SEHFA

Schedule a Consultation

Subscribe to our Emailed Newsletter