Alternative Investments Task Force

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In February 2006, the AICPA established an Alternative Investments Task Force which would report to the AITF and whose objective is to consider accounting and auditing issues with respect to alternative investments. The task force included representatives from higher education, healthcare, public accounting, employee benefit, and investment industries. Higher education representatives were John Kroll, University of Chicago and Dale Larson, University of Dallas. The task force made recommendations for providing adequate evidence of monitoring, due diligence and assessing fair value. As a result of the task force deliberations, existing professional literature, and information provided by certain AICPA member firms to their own professional staff, the AICPA issued a Practice Aid, "Alternative Investments - Audit Considerations," on July 18, 2006.

View a summary of task force proceedings from NACUBO representatives as of July 7, 2006