Las Vegas Fund Audits

An investigation conducted to verify financial records, transactions, and other internal workings of a business is called an audit. An audit may be performed internally (by an employee of the company) or externally (by hiring an independent party.)

It’s a common misconception that audits only happen when suspicious activity is detected. In reality, an audit is no reason to feel anxious. In fact, routine audits are great for building trust, as they allow potential investors of a hedge fund to gain a better understanding of the fund’s operations.

Benefits of a hedge fund audit include:

• Attract new institutional investors
• Catch and correct errors
• Exercise due diligence
• Establish trust and transparency
• Discover growth opportunities
• Provide appropriate verification
• Ensure compliance and avoid legal trouble
• Establish, standardize, and review methodology

If you are a fund administrator in search of reliable fund audit services in Las Vegas, we’d love to speak with you. Read below for more information about Haynie & Company’s fund auditing services in Las Vegas, NV or contact us now to get started!

Fund Audit Procedures

A qualified professional known as a fund auditor performs audits. Think of them as the “checks and balances” department that adds an extra layer of legal protection. When the right fund audit procedures are in place, the fund auditor examines invoices, financial records, and other documentation to check that all balances and transactions have been accurately recorded, distributed, and accounted for. Once this process is complete, a fund audit report is prepared for distribution.

Per generally accepted accounting principles, the reports that a fund auditor provides will include the following crucial information:

• Expenses, profits, and losses
• Decisions made by the fund
• Verification and evaluation of assets and liabilities
• Opinions from the auditor

The year-end reports included in an annual audit help everyone gain a better understanding of the fund portfolio, risks, and returns. Catching errors in a fund’s audited financial statements is imperative, because these “material misstatements” could potentially result in voided contracts. In addition, fund auditors are also able to identify areas for growth. With our expertise, you can maintain the health of your hedge fund and protect your investments.

Note: Domestic hedge funds are not required to have annual audits unless the fund manager is a registered investment advisor with the Securities and Exchange Commission (SEC.) Depending on their jurisdiction, offshore hedge funds may need audits.

For Comprehensive Las Vegas Hedge Fund Audits, Connect with Haynie & Company Now

Routinely audited financials demonstrate a track record of transparency and trustworthiness. As an emerging leader among Las Vegas accounting firms, Haynie & Company’s team of certified public accountants, compliance experts, fund auditors, and investment advisers are here to support your goals. We are proud recipients of Expertise.com’s Best Accountants in Las Vegas 2021 and Best Business Advisors in Las Vegas 2021 recognition.

To speak with a Las Vegas hedge fund auditor near you, contact us now.