equity firms will use more independent valuation experts specializing in
portfolio valuation and alternative, illiquid assets for fund-level analyses
and financial reporting requirements, according to a report from Valuation Research Corp. Fund
managers are choosing between two distinct paths in this partnership: (1) an
entirely outsourced portfolio valuation engagement; or (2) positive assurance, says
the report. There is an urgency to this, with audit season coming up and the
feeling that valuation scrutiny will be a top priority for all auditors.
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