Shadow accounting: The evolving practice of exercising due diligence in fund reporting
As alternative investment strategies gained increasing acceptance, the past couple of years turned into boom years for hedge funds and funds-of-hedge-funds, bringing increased visibility to the entire industry. But under that spotlight, when mis-steps involving back office operational risk and the independence of net asset valuations drew the scrutiny of regulators and the media, a new trend emerged. In an effort to focus on core competencies, reduce liabilities in peripheral areas of their operations, and along the way achieve cost efficiencies, many in the industry turned to outsourcing. For CFOs, this new trend was anything but an excuse to wash their hands of some aspects of operations – it was a catalyst for a fast rise in complexity of a practice known as shadow accounting. This article explores the fiduciary responsibilities that compel funds to employ shadow accounting, the added layers of control over different facets of the organization that are gained from this practice, and the data and technology requirements that different hedge funds or funds-of-hedge-funds may require as they strive toward due diligence through this method.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 10 (2004)
Issue (Month): ()
|Contact details of provider:|| Postal: 77 Water Street, 10th Floor, New York NY 10005|
Phone: +1 212 284 8600
Web page: http://www.capco.com/
When requesting a correction, please mention this item's handle: RePEc:ris:jofitr:1346. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Prof. Shahin Shojai)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.