(March 31 – 10:10 ET) – The Canadian Institute of Chartered Accountants has released a report stressing the importance of risk management for investment funds.
CICA says that with investment funds now responsible for more money than deposits, risk management has never been more important. “Through a common understanding of basic principles, risks associated with investment funds can be minimized, while at the same time maximizing accountability to investors and the opportunity to improve fund performance, says Paul Oliver, CA at PricewaterhouseCoopers LLP and chair of the CICA study group that prepared the report.
The report recommends that risk management must follow an integrated approach and must remain accountable to investors if it is to be effective. This involves continuous risk monitoring and immediate risk identification. The report, “Assessing Risks and Controls of Investment Funds: Guidance for Directors, Auditors and Regulators,” can be obtained from CICA by calling 1-800-268-3793 or by e-mail at orders@cica.ca.
CICA and the Investment Funds Institute of Canada are sponsoring a conference on the topic, the Second Conference on Leading-Edge Developments for Investment Funds, on May 8 and 9 at Toronto’s Inn on the Park Hotel. For conference registration information, contact CICA at (416) 204-3378.
-IE Staff