INFINITUM Introduces the Service of One-Time Audit of Management Company’s Activity

INFINITUM Group of companies [1] introduces the service of one-time audit of management company’s activity.

This service is a convenient way to check the compliance of the Management Company with the required regulatory standards. The audit is performed by experts of INFINITUM Group of Companies on the basis of the Russian legislation, taking into account the requirements of the collective investments market regulator.

Within the scope of the audit, all the necessary advice and guidance, and if required, relevant internal documents, instructions and regulations templates are provided.

The areas to be audited are formed individually for each Management Company, taking into account the special aspects of internal structure and activities performed.

‘This service may be very helpful, as it gives the management company (its employees, officers, owners) an opportunity to obtain an opinion of independent third-party experts regarding the compliance of the company’s activity, requirements to it in order to identify possible risks (including the risks of receiving claims upon the regulator’s audit) and to take timely measures for their elimination/mitigation or to make sure there are no any risks. To minimize the risks, we recommend that activity compliance audits be carried out not only as of the current date, but also for a certain period (preferably a year). The amount of information to be audited is really very large, and to perform a similar audit on its own, the management company would have to request their employees to abandon their direct duties for a considerable period of time. Furthermore, our experience and knowledge gained in the processing of incoming questions from our customers, allows to draw attention of the management company to those aspects which had never been in doubt before,’ Lyudmila Korneeva, Head of Consulting and Transaction Expertise Administration, said.