New auditor licensed for local fund sector

(CNS): Citrin Cooperman, an accounting and business consulting firm, has been granted a license to transact business as an approved auditor in the Cayman Islands and will be offering offshore-based funds auditing services under the Citrin Cooperman (Cayman) name. The firm says it is now able to offer auditing services to Cayman investment advisors. “Our presence in the hedge fund area has grown substantially over the last several years, and this was a natural expansion of our services,” said Dave Grumer, co-partner in charge of the firm’s Financial Industry Group.

“With Citrin Cooperman (Cayman) we can now accommodate our current set of hedge fund clients who themselves have become more active offshore,” he added.

With approval by the Cayman Island Monetary Authority (CIMA), the financial regulatory agency of the Cayman Islands, Citrin Cooperman will also be able to audit registered investment advisors and other similar entities that are established in the Cayman Island jurisdiction, according to Bob Kaufmann, co-partner in charge of the firm’s Financial Industry Group.

The establishment of Citrin Cooperman (Cayman) allows the Financial Industry Group to expand its reach to a growing number of Cayman Islands-based funds and advisors seeking audit and attest services.

Citrin Cooperman’s set of longstanding clients served by its Financial Industry Group includes broker/dealers, investment partnerships, and registered investment advisors. The financial services professionals at Citrin Cooperman combine decades of technical expertise to help these firms set up business structures for broker/dealers, incubate hedge funds, and consult with RIAs on regulations, reporting, and tax treatments.