Regulatory Alerts2026-01-01
Circular No. 3 of 2026- Independent Auditor Reporting Requirements
The Capital Markets Authority requires all fund managers of Collective Investment Schemes and Alternative Investment Funds to expand the scope of external audits to include detailed verification of assets under management, portfolio compliance, and valuation accuracy. Auditors must conduct rigorous testing of investment policies, asset allocation limits, and return calculation methodologies to ensure adherence to regulatory standards. Furthermore, fund managers are mandated to ensure that appointed external auditors submit a separate report to both the Authority and the Trustee detailing any instances of non-compliance identified during the accounting period.
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