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Practice aid for auditors on alternative investments available.

Over the past several years, certain not-for-profit organizations, healthcare entities, pension plans and investment companies, including funds of funds, have dramatically increased their investment in alternative investments--meaning those that do not have a readily determinable fair value. Due to the increased risk of misstatement inherent with these investments, an AICPA Alternative Investment Task Force prepared a Practice Aid, Alternative Investments--Audit Considerations, to assist in audits of alternative investments. It also focuses on the existence and valuation assertions associated with alternative investments.
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Publication:CPA Letter
Date:Feb 1, 2009
Words:81
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