What Alternative Asset Managers Need to Know about Financial Statement Preparation

Whether it is capitalising on opportunities, mitigating risks associated with volatile markets, shedding light on ESG, or keeping on top of ever evolving regulation and compliance obligations, alternative asset managers have become increasingly reliant on outsourced solutions to keep moving forward.

Because of ongoing regulatory changes, including the recent Private Fund Adviser Rules issued by the US Securities and Exchange Commission, investment funds have increasingly become subject to financial statement reporting, audits and annual filings. The reporting season at the start of the year is an opportune time for alternative asset managers to examine what new rules have emerged since the last reporting cycle and accordingly, whether it is best to outsource their financial reporting including financial statement preparation. 

Analysing financial statement preparation requirements

Busy periods such as quarter-end accounting or year-end reporting might leave alternative asset managers feeling overwhelmed and distracted from their core goal of achieving desirable returns for investors.

A specialist third-party financial reporting provider can give alternative asset managers peace of mind by leaving such compliance and reporting  issues in capable hands who dedicate the time and expertise necessary to stay updated on the latest legislation and regulatory developments, thereby ensuring that asset management firms are in compliance  across jurisdictions and offices.

Why alternative asset managers can benefit from financial reporting services

Moreover, the resources required to train and sustain an in-house team dedicated to financial reporting can prove burdensome for smaller asset management firms, even if—and given the special effort involved, perhaps especially—the reporting is an annual endeavour. Suffice it to say, alternative asset management firms that have the opportunity to outsource financial statement preparation to a team of external specialists appreciate their inherent cost-saving efficiencies.

The Maples Group is home to a highly qualified and experienced team that offers fund financial statement preparation services, in accordance with generally accepted financial reporting standards and common best practices across the alternative asset 

management industry. Our team of qualified CAs and CPAs, drawing on experience gained at Big Four accounting firms, provides accounting services for more than 650 alternative investment funds each year.

Our clients rely on us for our clear and detailed guidance throughout all steps of the audit process and backed by leading-edge, financial statement preparation software and technology platforms. Whether hedge fund, venture capital, or private equity, the financial reporting team at Maples Group leaves alternative asset managers with the bandwidth they need to focus on their core competency: generating market-beating returns.

For further information, consult our Financial Statement Preparation Services brochure or contact our team below.