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Independent Public Accountant

A fund’s independent public accountant is the entity that reviews and certifies the fund’s financial statements. The independent public accountant typically works closely with the board’s audit committee, and is actively involved in reviewing many matters related to the fund’s financial integrity. For example, as part of its annual audit, the accountant reviews the fund’s valuation of securities and certain transactions with affiliates. The accountant also is often called on to provide specialized tax, consulting, or compliance services. The independent public accountant’s ability to provide non-audit services is limited by certain laws and regulations.