tailieunhanh - TECHNICAL BRIEF FOR INVESTMENT FUNDS: ACCOUNTING, FINANCIAL REPORTING & REGULATORY ( VOLUME 5)

The authorities have reached consensus on the way forward for a Debt Resolution Strategy with Cabinet approval of the Zimbabwe Accelerated Arrears Clearance, Debt and Development Strategy (ZAADDS) in 2010. The main components of the ZAADDS are reconciliation and validation of debt; re-engagement with creditors and the international community for the removal of the restrictive measures; negotiating for arrears clearance, new financing and comprehensive debt relief; establishment and operationalization of a Debt Management Office; and leveraging Zimbabwe’s natural resources in pursuit of debt relief and development. Bank support under Pillar III of the FSF has been instrumental in facilitating the. | Cayman Islands Assurance and Advisory Services Technical Brief for Investment Funds Accounting Financial Reporting I Regulatory Volume 5 - November 2012 In this issue Introduction Recent Accounting and Financial Reporting Updates - US Generally Accepted Accounting Principles Recent Accounting and Financial Reporting Updates - International Financial Reporting Standards Regulatory Update - US - CFTC - Registration of advisers with the CFTC Regulatory Update - US - SEC - private fund registration and other requirements - an update Regulatory Update - US - SEC and CFTC - private fund reporting rule Form PF - an update Regulatory Update - US - SEC - Volcker Rule - banking entities involvement with investment funds - an update Regulatory Update - US - SEC - Custody Rule - an update Regulatory Update - US - Foreign Account Tax Compliance Act FATCA - an update Regulatory Update - Cayman - CIMA - an update Fund Liquidations - Cayman considerations and alternative solutions Introduction Welcome to Volume 5 of the Technical Brief for Investment Funds Tech Brief a periodic newsletter developed by the Deloitte Cayman Investment Funds Technical Team. The major accounting standard setting bodies have put out a number of new and proposed amendments and refinements to guidance over the last couple years some of which are effective for December 2012 year ends and several more which are effective on January 1 2013. Some of the new requirements are relatively straightforward while others may be much more complex to apply in practice such as the new fair value measurement disclosures and disclosures relating to offsetting of assets and liabilities and master netting agreements. In this Tech Brief we summarize some of the more significant new accounting and financial reporting requirements that investment funds and their managers will have to contend with. As we introduced last year and discuss further in this Tech Brief lawyers and others involved in the structuring of funds should .