Frequently Asked Questions (FAQs)
General Questions
What services does Akram specialize in?
Akram is a boutique CPA firm offering high-end audit, assurance, consulting, and tax services specifically tailored for the alternative investments industry—including hedge funds, private equity, digital assets, REIT, venture capital, family offices, and high-net-worth individuals.
Who do Akram typically work with?
Our clients include fund managers, general partners, family offices, and investment advisors operating across various alternative asset classes.
What makes Akram different from other firms?
We combine deep industry specialization with direct partner-level access, fast response times, and boutique-level service. Our team brings Big 4 experience while maintaining agility.
Where are you located and do you serve clients nationwide?
We are headquartered in the U.S. but serve clients nationwide and internationally, including multi-jurisdictional fund structures.
What types of challenges can you help with?
We help clients manage fund setup, structuring, tax planning, compliance, audit readiness, and performance reporting.
What accounting standards are used for fund audits?
Typically IFRS or US GAAP, depending on investor and fund requirements.
Do you work with administrators during fund audits?
Yes. We coordinate with third-party fund administrators for NAV reports, investor data, and financial records.
Is Akram right choice for new or emerging fund managers?
Absolutely. We specialize in supporting emerging managers and startups with scalable, cost-effective solutions.
Does Akram assist with SEC/IRS examinations or investor due diligence reviews?
Yes. We provide IRS representation, custody audits, SOC audits, financial statement preparation, and investor due diligence support.
What is the typical audit/tax timeline for alternative investment funds?
Audited financial statements must be delivered within 120 days of year-end; tax schedules vary by jurisdiction.
How does Akram ensure independence while maintaining strong client relationships?
Akram is 100% partner-owned with no outside ties, ensuring full independence.
What cybersecurity and data confidentiality measures are in place?
We use AES-256 encrypted storage with strict access controls. Data is backed up daily and shared securely with password protection.
Hedge Funds
What types of hedge fund structures do you support?
We support master-feeder funds, standalone funds, offshore/onshore entities, and fund-of-funds.
Does Akram support hedge fund managers?
Yes. We provide end-to-end audit, tax, and consulting for hedge funds.
Does Akram assist with hedge fund launch and setup?
Yes. We assist with entity formation, capital structure, service provider coordination, and best practices.
How are hedge fund audits different?
They focus on subscriptions/redemptions and valuation of liquid assets.
How do hedge fund audits benefit investors?
They build credibility and provide assurance on NAVs, valuations, and disclosures.
Venture Capital Funds
What services does Akram offer VC firms?
Fund accounting, tax compliance, capital call tracking, and portfolio valuation.
What’s unique about VC fund audits?
They emphasize illiquid investments, capital commitments, and carried interest.
Do you review valuations of portfolio companies?
Yes. We review methodologies, inputs, and documentation for compliance.
Can you support new VC managers?
Yes. We assist with fund launch audits, structuring, and best practices.
Private Equity Funds
What value does Akram bring to PE funds?
We offer tailored audit, tax, and consulting services including capital accounting, waterfall calculations, and reporting.
Does Akram help with PE operational setup?
Yes. We provide tax planning, audit, and deal structuring support.
How do PE audits differ from hedge fund audits?
They emphasize valuation of illiquid investments, capital calls, and carried interest.
Can Akram assist first-time PE fund audits?
Yes. We guide emerging PE managers through audits and tax compliance.
Cayman Islands Fund Audit
Does Akram provide Cayman Islands audits?
Yes. We are an approved CIMA auditor for Cayman-registered funds.
Why do Cayman funds require an approved auditor?
CIMA requires regulated funds to submit annual audited financial statements.
What standards are used for Cayman audits?
Audits are under IFRS or US GAAP depending on fund requirements.
When are audits due to CIMA?
Within six months after year-end.
What if a fund does not file on time?
Late filings may result in penalties, fines, or suspension.
Insurance Dedicated Funds
What is an Insurance Dedicated Fund (IDF)?
An IDF is a private investment vehicle offered through insurance platforms.
Does Akram provide IDF audits?
Yes. We provide regulatory-compliant audits for IDFs in Cayman and elsewhere.
Why do insurance companies require IDF audits?
To ensure investment transparency and compliance.
Cryptocurrency & Digital Asset Funds
Does Akram audit cryptocurrency funds?
Yes. We audit crypto hedge funds, token funds, and digital asset vehicles.
What challenges exist in crypto fund audits?
Valuation, custody verification, and compliance are key challenges.
How do you verify cryptocurrency holdings?
We use blockchain verification tools and third-party confirmations.
Do Cayman crypto funds need audits?
Yes. CIMA requires annual financial statement audits for regulated crypto funds.
Can you assist with proof-of-reserves reporting?
Yes. We provide independent verification of reserves for investors.
Tax Services
Do you assist with investor tax reporting?
Yes. We prepare Schedule K-1s and investor statements with administrators.
Do Cayman funds have local taxes?
No. Cayman funds are tax-neutral but must report in investor jurisdictions.
Can Akram assist with FATCA/CRS compliance?
Yes. We support global tax reporting compliance (FATCA/CRS).
Does Akram provide tax reporting for international investors?
Yes. We support cross-border tax documentation and investor statements.
Family Offices
Does Akram work with family offices?
Yes. We provide audit, tax, and accounting services for family offices.
Do family offices require audits?
Not always, but many choose audits for transparency and trust.
Can Akram assist with consolidated reporting?
Yes. We prepare consolidated reports across entities and investments.
Can Akram provide tailored family office solutions?
Absolutely. We customize services to meet unique family office needs.
Broker-Dealers Audit
Does Akram audit broker-dealers?
Yes. We provide regulatory audits for SEC/FINRA registered broker-dealers.
What standards apply to broker-dealer audits?
Audits follow PCAOB standards and SEC/FINRA rules.
Do broker-dealers require annual audits?
Yes. They must submit audited statements annually.
Does Akram assist with compliance filings?
Yes. We help with FOCUS reports, net capital, and compliance reviews.
Can Akram support startup broker-dealers?
Yes. We guide new broker-dealers through setup and audits.
Best Accounting & Audit Firm | Start-up & Emerging Funds
Akram is a winner in the Hedgeweek Americas Awards for consecutive 3 years 2021, 2022, and 2023
We have been voted “Best Accounting Firm for Start-up & Emerging Funds" by Hedge Week.
Akram is a winner of “Best Audit Firm" by Private Equity Wire US Emerging Managers Awards 2024.
Contact Us for Investment Fund Accounting Solutions
We understand that clients in the Alternative Investments arena are extremely prudent. At Akram, we provide high-end, tailored fund accounting services with careful planning and an unmatched responsiveness that only a boutique accounting firm like ours can deliver. Contact us today to learn more about our specialized assurance, advisory, and tax services for hedge funds, commodity trading advisors, private equity and venture capital funds, digital asset funds, insurance dedicated funds, real estate funds, day traders, investors, family offices, and high net worth individuals.