Elian Funds Services’ robust internal governance framework has earned the company an international audit standard.
The company has achieved the International Standard on Assurance Engagements (ISAE) 3402 Type 2 Certification – a global assurance standard to enable auditors to verify the integrity of an organisation's internal controls.
Elian invited auditors KPMG to examine its controls report for the period 1 October 2014 to 31 March 2015.
Its accreditation covers all private equity and mezzanine debt structures that are administrated from the Channel Islands offices.
Elian director Charles Le Cornu said: ‘We firmly believe that a strong control environment is fundamental to delivering value to our clients. This certification verifies Elian Funds Services’ robust internal governance framework and our embedded culture of strong risk management and compliance. The Channel Islands funds team has been steadfast in its commitment to achieving this certification, so congratulations to the 75-strong team for its dedication.
‘The funds industry is constantly subjected to tightening regulations. With this comes an increasing expectation for service providers to strive for the highest standards of internal controls, and we are pleased to respond to market expectations.’
Elian Funds Services achieved the International Standard on Assurance Engagements (ISAE) 3402 Type 1 Certification in September 2014.
Elian Funds Services’ administration offering for private equity and mezzanine debt fund clients includes the accounting and administration of regulated, unregulated, open and closed-end funds, as well as locally domiciled funds. Elian Funds Services in the Channel Islands has $15.5bn in assets under administration across a base of 80 funds.