What's new

The mutual fund advisory contract review process: Simplifying complexity This paper provides insights into the current environment, working practices and ongoing challenges trustees face in the advisory contract review process.

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Quarterly summary of developments for mutual fund audit committees: 03.31.08 The document includes current developments by subject area (including a separate section on tax issues), and a list of PwC and other publications aimed at industry directors.

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Investment Management 'Point of View' Series
PwC has developed 'point of view' series on a range of auditing, accounting, advisory and regulatory issues affecting our clients and our profession. Topics include FAS 157 implementation, wealth management, M&A due diligence, internal controls reporting for hedge funds, evolution of investment management sourcing, and guidance on auditing compliance programs. Click here to request copies.

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Assess the risks: Key strategies for overseeing derivatives PwC co-sponsored and participated in the recent BoardIQ Mutual Fund Trustees roundtable. This document highlights the discussion from that session, including the increased use of derivatives, growing oversight concerns by regulators, the inverse floater issue, and the use of derivatives tied to the credit markets. Nine action steps for consideration are offered.

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Working guide for an investment company's audit committee Updated in October 2007, this long-standing PwC publication provides members of those audit committees a source of possible topics and matters to discuss with, and questions to address to, fund management, service providers, and internal and independent auditors. The guide serves as a “thought provoker” to minimize the risk of any considerations or discussions being unintentionally overlooked during audit committee meetings and, conversely, to identify relevant and suitable subjects for discussion.

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Strengthening internal control through forensic testing Forensic testing is a hot topic these days for funds and investment advisers seeking ways to improve their compliance programs. This publication helps to explain the growing interest in forensic testing, while providing sound forensic testing guidance.

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PwC alternatives, Volume 3 no. 2
In this issue: Best practices for hedge fund managers and investors issued by President’s Working Group on Financial Markets, The emerging market for carbon emissions rights, MiFID compliance: what’s next?, The tax framework for US-managed hedge funds investing in Germany, The administrator – integral player in the alternative investment industry, Real estate investment trusts: under the state looking glass, Real estate tax update.

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Professional development program
The Professional Development Program is a series of courses designed to contribute to the development and education of executives in the investment management industry. Attached is our calendar of current course offerings for Fall 2007. It is also available on-line at www.meetpwc.com/pdp.

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Looking ahead: Strengthening the structural foundation of the US investment management industry: Internal controls
Against a backdrop of continued convergence in the industry, an increased emphasis on product development, and a challenging legislative and regulatory environment, the need for a renewed focus on internal control is more important than ever. This publication provides an overview of today's environment, our observations on five key areas of internal control and suggested practices to address challenges in each area.

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Investment management perspectives
In this new look issue of Perspectives, Customer-centric business: Getting the focus right, we discuss the ideas and attitudes of leaders in the industry and look in detail at how a customer-centric approach could change important elements of the business to the mutual satisfaction of providers and customers including covering customer-staff relations, new markets, product design and innovation, distribution and technology.

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Interactive data in the mutual fund industry: Your questions answered
From recent remarks made by SEC Chairman Chris Cox in the past 6 months, it is clear that the SEC is striving to enhance the transparency of information contained in corporate reports, therefore making mandated disclosures more useful to investors, and all market participants. Interactive data is a means to that end.