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Private Banking and Wealth Management Survey 2012

August 2008

Portfolio valuations: Auditors off the hook

The precise responsibility of parties such as accountants and administrators in the event of hedge fund portfolio valuation discrepancies has been of growing concern among service providers.


As more hedge funds are forced to liquidate hard-to-value assets, auditors and administrators’ handling of valuations is under scrutiny. A court win by Ernst & Young in New York, however, has provided some relief to accountancy firms at least.

In 2002, Beacon...


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