Internal Audit Advisory Content

On March 18, 2021, the US Securities and Exchange Commission (SEC or Commission) adopted interim final form amendments to implement the disclosure and submission requirements of the Holding Foreign Companies Accountable Act (HFCA Act), which go into effect on May 5, 2021. The SEC...

[33399] March 29, 2021 TO: ICI Members ICI Global Members SUBJECTS: Audit and Attest Compliance Disclosure International/Global RE: SEC Adopts Form Amendments to Implement the Disclosure and Submission Requirements of the Holding Foreign Companies Accountable Act The US Securities and...

In December, the SEC adopted new Rule 2a-5 (the “fair value rule”) under the Investment Company Act, which addresses the fair valuation responsibilities of funds and their boards and advisers.

[33441] April 12, 2021 TO: Chief Compliance Officer Committee ESG Advisory Group ESG Task Force Internal Audit Committee RE: The Division of Examinations Publishes Risk Alert with Observations from Its Exams of Investment Advisers and Funds Regarding ESG Investing Last Friday, April...

[33411] April 1, 2021 TO: ICI Members SUBJECTS: Audit and Attest Closed-End Funds Fund Accounting & Financial Reporting RE: SEC Issues Dear CFO Letter for Investment Companies On March 30, 2021 the staff of the Chief Accountant?s Office in the Division of Investment Management issued...

[33181] March 12, 2021 TO: ICI Members Investment Company Directors SUBJECTS: Audit and Attest Audit Committees Compliance Fund Accounting & Financial Reporting Fund Governance Intermediary Oversight Investment Advisers Operations Recordkeeping Risk Oversight Valuation RE: SEC Staff...

[33158] March 4, 2021 TO: ICI Members Investment Company Directors ICI Global Members Chief Compliance Officer Committee Internal Audit Committee International Internal Audit Advisory Committee SEC Rules Committee Transfer Agent Advisory Committee SUBJECTS: Anti-Money Laundering...

[33151] March 3, 2021 TO: ICI Members Investment Company Directors Accounting/Treasurers Committee Security Valuation Operations Committee SUBJECTS: Audit and Attest Audit Committees Fund Accounting & Financial Reporting RE: SEC FAQ on Rescission of Auditing Guidance in ASR 118 The...

[33098] February 9, 2021 TO: Internal Audit Committee RE: 2021 Internal Audit Committee Schedule We have set the dates for the virtual meetings/calls of ICI’s Internal Audit Committee for 2021. These dates are listed below. At the appropriate time, which will be a few weeks in advance...