Investment Companies - Audit and Accounting Guide

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Your industry standard resource.

Whether you are a financial statement preparer or auditor, it is critical to understand the complexities of the specialized accounting and regulatory requirements for investment companies.

Your industry standard resource, this 2020 edition supports practitioners in a constantly changing industry landscape. This guide addresses:

• regulatory requirements, including recent changes and new developments most relevant to investment companies;
• auditing guidance, including report illustrations for audits conducted in accordance with standards promulgated by AICPA and PCAOB.
• accounting guidance, including financial statement illustrations and disclosures relevant to both registered and non-registered investment companies;
• changes that result from guidance that was recently-issued or became recently effective; and,

2020 updates include:

• Alignment of staff positions identified in the guide with their listing on SEC's "Accounting Matters Bibliography";
• Conforming changes resulting from accounting standards that recently became effective (for example, fair value disclosures).
• Conforming changes resulting from auditing standards that were recently issued (for example, SAS No. 134).
• Areas of special interest, which are included in appendices (for example, the new standard for financial instruments, common or collective trusts and business development companies).

Finally, the guide features a schedule of changes which identifies where to find updated content and the associated reasons for the changes.