Any entity licensed as a Category 1 Global Business Company and undertaking activities as collective investment schemes needs to have its financial statements audited on an annual basis.
The financial statements of all entities domiciled in Mauritius needs to be audited by a local audit firm duly licensed with the Financial Reporting Council. Local audit firms which dominate the audit market in Mauritius are from internationally recognised networks of accounting firms. All Big 4’s and other international names have representative offices in Mauritius.
The audited financial statements need to be filed with the regulator (the FSC) within 6 months after balance sheet date. Any late filing does not lead to penalties but remains questionable by the FSC.
The financial statements of the Fund are audited by KPMG.