Independent audit of scheme accounts requires fiduciary appointment and annual-report inclusion, subject to a sole-contributor government-investor exemption. Every scheme launched by a fund management entity must have its annual statement of accounts audited by an auditor not associated with that entity. The ... Summary
Independent audit of scheme accounts requires fiduciary appointment and annual-report inclusion, subject to a sole-contributor government-investor exemption.
Every scheme launched by a fund management entity must have its annual statement of accounts audited by an auditor not associated with that entity. The requirement is exempted for specified Government or government-related investor entities where those investors are the sole direct or indirect contributors to the schemes. Fiduciaries appoint the auditor, whose report must be forwarded to them and form part of the scheme's Annual Report.
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