INDOS Financial Limited (INDOS), the independent Alternative Investment Fund Managers Directive (AIFMD) depositary business, has announced it has selected the accountancy and business advisory firm BDO LLP to provide advisory and SOC 1/ ISAE 3402 (formerly known as SAS70) assurance services to its business.
Bill Prew, CEO of INDOS Financial, commented “We have already made a significant investment developing our AIFMD depositary oversight procedures and recognise the importance of ensuring they are robust and fit for purpose. We are committed to delivering independent SOC1/ ISAE 3402 assurance reporting to our clients. We selected BDO because they have significant experience of both the AIFMD and working with the hedge fund industry including hedge fund managers, their funds and service providers”.
Richard Weighell, a partner at BDO LLP, commented: “AIFMD represents both a challenge and an opportunity for the hedge fund industry. Forward thinking organisations such as INDOS Financial have recognised this and are responding to the new environment. BDO has a strong reputation in the financial services industry and we are proud to be working with INDOS Financial on this important project.”
