The CNMV transfers responsibility to audit firms of investment companies

“The circular broadens the responsibility of auditors in relation to clients’ investment positions”, stated Tomás Gómez, partner and director of GOMARQ Consulting. […] This circular is in line with others approved recently on internal control and half-yearly reports by custodians [companies which hold investors’ securities]. “The CNMV is setting up an oversight system wherein all players mutually control on another, from fund managers to audit firms”, states Gómez.

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