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Internal audit outsourcing and cosourcing - A flexible solution for self-managed AIFs | Brochure


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New regulatory challenges

Internal audit outsourcing and cosourcing - A flexible solution for self-managed Alternative Investment FundsOne of the consequences of the financial crisis has been the unprecedented regulatory pressure on financial institutions. In Luxembourg, the EU Directive on Alternative Investment Fund Managers (AIFMs) has emerged as one of the most challenging new regulations for self-managed AIFs.

The Directive has introduced a specific obligation for self-managed Alternative Investment Funds (AIFs) to adopt a permanent Internal Audit function, as specified in the application form for self-managed AIFs.

In this context, setting up and maintaining a well-proportioned and efficient internal audit function is vital in order to support all of the organisation’s stakeholders - and more specifically the executives and board members - in fulfilling their increasing responsibilities in terms of governance, risk management and control.

Have you ever wondered?

  • Is the methodology we use for asset calculation questionable?
  • Is the liquidity management system we have in place sound and reliable i.e. maintaining an appropriate level of liquidity, monitoring the liquidity profile, performing regular stress tests?
  • Is the supervision of activities we delegate in line with regulatory expectations?
  • Are our organisational controls appropriately designed? Are they operating effectively?
  • How can we keep up with a constantly evolving regulatory environment?
  • As a member of senior management or a board member, do I successfully fulfil my leadership and supervision responsibilities?

The Deloitte approach

The Deloitte approach is based on risks and processes and contributes to significantly improving internal audit effectiveness and added value.

Deloitte’s teams rely on a well-proven, modular approach, tailored to specific needs on a case-by-case basis, to account for the size and specific features of the Alternative Investment Fund Management industry.

Deloitte’s made-to-measure services specifically include:

  • Outsourcing or cosourcing of your internal audit
  • Creation and implementation of your internal audit function
  • Optimisation of your internal audit function
  • Internal audit training

Deloitte’s expertise covers the following areas:

  • Risk assessment
  • Regulatory compliance review
  • Fraud assessment, detection and forensics
  • Financial risk modelling
  • Complex asset valuation
  • Due diligence
  • Pan-European tax reporting Operational efficiency and effectiveness
  • Business continuity programmes
  • Data quality and integrity analysis
  • Liquidity risk management
  • Fund distribution
  • Fund reporting
  • IT security and privacy

Deloitte services

Deloitte offers a full range of internal audit services that help executives and board members not only to better understand and monitor the performance of critical operations but also, and more importantly, to achieve their strategic goals.

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