Ch.3 · Custodian and RTA Functions · easy
What is an Auditor's role in the mutual fund structure?
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EXPLANATION
Each mutual fund scheme must appoint a statutory auditor who audits the scheme's annual financial statements (revenue account, balance sheet) and provides an audit report. The audited financials form part of the annual report provided to unit holders. The auditor must be independent of the AMC and is appointed by the trustees.
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