PwC predicts more hedge fund controls
PwC is predicting more operational controls among hedge funds in the wake of the global financial turmoil
PwC is predicting more operational controls among hedge funds in the wake of the global financial turmoil
In its newly released sixth annual global hedge fund whitepaper –
‘Operational Risk: an alternative challenge’ –
PricewaterhouseCoopers
(PwC) is predicting regulatory pressure will induce the hedge fund industry to
be more transparent to its investors about its operational controls.
Graham Phillips, PwC European hedge fund practice leader, said market
volatility meant the operational control environment ‘must be sufficiently
robust to withstand proper scrutiny’, particularly from instituteional
investors.
‘In fact, we expect to see many more requests of hedge fund managers to
provide formal reports on controls, in the same way as traditional asset
managers have provided to their institutional investors for many years,’ he
said.
Robert Mellor, PwC UK financial services tax leader, predicted tax
liabilities would move centre stage: ‘Recent regulation, US congressional
enquiries and pressure to adopt governance standards, have all increasingly
challenged investors to consider and understand the tax issues associated with
their underlying investment. Funds in many territories are voluntarily adapting
to the standards of FIN48, one of the most significant developments on the tax
scene.’
Further reading:
‘Irresponsibility’ fuelled meltdown: Brown
The numbers you crunch tell a story. Your expertis...
16yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW cited managing insurance costs, firms struggling to obtain coverage, assessing risk-taking capacity, and evolved firm structures as drivers ...
View articleThe IESBA emphasizes the importance of timely and global adoption of their standards. For corporate accountants, this means staying updated with chang...
View articleKPMG's faces record fine for a widespread exam cheating scandal, implicating senior staff and highlighting systemic ethical issues in the professional...
View articlePwC's Australia tax scandal has led to significant changes, including over 300 job cuts and the refusal to share a crucial report with Australian parl...
View articleAccountants and accounting firms play a crucial role in maintaining financial integrity, facing ethical dilemmas and regulatory challenges. Adherence ...
View articleThe creation of an effective sustainability standards infrastructure requires not only high-quality sustainability reporting and assurance standards, ...
View articleChanges will help to make accounting profession more attractive, ICAEW boss says Read More...
View article38% of firms required significant improvements, prompting the council to state Tier 2 and Tier 3 firms must "prioritise audit quality improvements and...
View article