2018 Audit Committee Outlook for Asset Management
Grant Thornton is pleased to provide this Audit Committee Outlook for asset management companies. We hope it will help committee members understand recent and near-future developments relative to their role overseeing corporate financial reporting and disclosure.
The asset management industry regularly faces challenges such as macroeconomic pressures, shifting compliance burdens, and ongoing regulatory uncertainty. This year, new tax laws, accounting rules, and risk strategies are challenging directors who serve on audit committees for asset management firms to be more engaged than ever before. Our goal with this publication is to provide you a high-level review of current concerns facing this sector in order to help you focus on areas that may need increased oversight.
Tax reform will drive much of the learning that directors need to do for 2018. Several provisions in the recently enacted tax bill could affect the asset management sector in a variety of ways, such as changes to personal rates and deductions for business earnings of pass-through entities, the elimination of corporate alternative minimum tax, the Base Erosion Anti-Abuse Tax (BEAT), full expensing for asset purchases, and other provisions. More information on this pivotal topic is included in the following chapter on tax reform.
Download our 2018 Audit Committee Outlook for Asset Management to understand how recent and near-future developments impact corporate financial reporting and disclosure.