Grant Thornton Launches Service for Hedge Funds

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Grant Thornton is launching a Hedge Fund Internal Control, Governance and Regulatory Compliance Services unit, designed to help funds attract investors who might be wary of alternative investments. The group will also assist funds in preparing to face new regulations that are all-but certain to come out of Washington.

In addition to developing the internal control, compliance and governance facilities to comply with the new rules, firms may also be required to establish an anti-money laundering program and report suspicious activities, Grant Thornton notes.

The company says its new services will include:

- Assessment of a hedge fund firm's readiness to address new investor and regulator demands regarding internal controls, financial reporting and governance.

- Development and testing of internal controls.

- Development and review of regulatory compliance programs

- Independent pricing and classification verification; develop and test valuation policies and procedures.

- Independent attestations and opinions on internal controls

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