What is the role of the Accountants/Auditors in a fund?
The auditor of the fund vehicle audits the fund and its investment based on the financial statements prepared by the Fund Administrator and renders an opinion to the investors whether the financial statements present a true and fair view.
The financial statements are made up using the applicable accounting standards. Usually, as part of the audit process, the fair value of the investments are assessed.
In Singapore, approved company auditors are regulated by the ACRA.