Fund Audits

Building Investor Trust through Technical Rigor

In the investment world, an audit is more than a regulatory hurdle; it is a critical component of your fund’s credibility. Whether you are managing a startup venture capital fund, a complex hedge fund, or a large-scale real estate vehicle, your investors demand absolute transparency and precision. From fair value measurements of illiquid assets to the accurate calculation of carried interest, the margin for error is nonexistent.

We provide the sophisticated oversight that global capital requires. You shouldn’t have to explain your fund’s waterfall structure or SPVs to your auditors. At Calvetti Ferguson, we act as a technical extension of your team. Our audit professionals are dedicated to delivering precise, timely, and insightful audits that meet the most rigorous expectations of LPs, boards, and regulatory bodies, such as the SEC.

Specialized Audit Solutions Across the Fund Spectrum

We provide a unified platform of assurance services designed to handle the unique complexities of various fund types and investment strategies.

Private Equity & Venture Capital Funds

Providing the rigorous oversight needed for funds managing diverse portfolios of private companies.

• • • Portfolio Valuations: Reviewing methodologies for illiquid and privately held assets to ensure consistency with industry standards.

    • Carried Interest & Performance Fees: Performing precise calculations based on complex agreements and multiple investor classes.

    • SPV & Layered Structure Audits: Navigating the accounting complexities of special purpose vehicles and multi-tiered investment structures.

Hedge, Credit & Regulated Funds

Managing the high-volume data and regulatory scrutiny associated with liquid and debt-based strategies.

• • • Credit Fund Oversight: Evaluating loan portfolios, interest accruals, and impairment assessments for private credit and debt funds.

    • Hedge Fund Compliance: Ensuring accurate NAV reporting and compliance with diverse trading and strategy requirements.

    • SEC & AIFMD Regulatory Reporting: Navigating the specific compliance mandates required for regulated entities and global operations.

Real Estate & Infrastructure Funds

Technical audit depth for capital-intensive assets and complex lease structures.

• • • Asset Verification: Ensuring reported property values and liabilities reflect economic reality and market shifts.

    • ASC 842 Implementation: Guiding funds through the complexities of modern lease accounting standards for real estate holdings.

    • Distribution & Waterfall Analysis: Verifying that returns are allocated accurately across all partner levels.

Why Choose Calvetti Ferguson for Your Fund Audit?

We offer the technical resources of a national firm delivered with the agility and senior-level attention of a specialized consultant.

• PCAOB-Registered Quality: As a PCAOB-registered firm, our work undergoes the highest level of professional scrutiny, providing the independence your stakeholders expect.

• Fair Value Expertise: Our team has deep experience in fair value measurements and the latest valuation methodologies for non-marketed assets.

• Efficient and Transparent Process: Our audit workflow is designed to minimize disruptions to your operations while providing clear communication throughout the engagement.

• Value-Added Insights: We look beyond compliance to identify risks in your internal controls, helping you professionalize your fund’s oversight.

Ready to Professionalize Your Fund’s Oversight?

Don’t let audit delays or technical gaps hinder your next capital raise. Let’s build the transparent, high-integrity foundation your investors deserve—partner with a firm that understands the intersection of fund management and institutional-grade assurance.

Contact Our Team