Expertise Beyond the Numbers

What Should An Investment Company Consider When Choosing Auditors and Tax Preparers?

SC&H Group’s Audit and Tax Services teams offer the following insights into how investment companies can effectively choose the best auditors and tax preparers for their specific needs.

In a highly complex regulatory and tax environment, choosing the right auditor and tax preparer for your investment company is extremely important.

When selecting an auditor and tax preparer, recognize you’ll be relying on the firm during a time of great uncertainty in the regulatory and taxation realms. That is why you want to find a company with a high degree of expertise to help you achieve compliance and reduce tax exposure. Also, the process of finding and hiring a new advisory firm is time-consuming, and not something you want to repeat on a recurring basis.

There are many complexities that can create increased tax exposure and higher tax payments for investors if not handled by experienced audit and tax experts. From an audit perspective, there are requirements from the U.S. Securities and Exchange Commission (SEC) that have to be met annually. Furthermore, there are tax implications with regards to reporting capital gains versus ordinary income and the timing and character of reporting gains, losses, and various items of income and deduction.

Finding a firm with the appropriate credentials and investment company experience will give you the confidence to devote your time on achieving your investment objectives on behalf of clients and shareholders.

To help guide investment companies in the right direction, SC&H Group has developed a white paper outlining key tips, specifically for investment companies, to help them choose the best auditor and tax preparer.

In addition, to learn more about how investment companies can best leverage unique audit and tax services, please listen to an exclusive podcast with Paul Shifrin, a Director with SC&H Group, here.

If you have any questions, or would like to discuss the tax and audit challenges facing your investment company, please contact SC&H Group here.