The FASB’s update Presentation of Financial Statements—Going Concern (Subtopic 205-40) requires management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in the US auditing standards. Ben Leung and Joseph Domingo of EisnerAmper Cayman provide some guidance.
From day one the Cayman Islands location of 100 Women in Hedge Funds has exceeded all expectations, even their own, reports communications committee chair Michelle Morgan.
Hedge Funds Care Cayman raises money and spends it in the form of grants to child abuse prevention and treatment programmes located in the Cayman Islands. Cindy Hislop, a board member of Hedge Funds Care Cayman, reports on the international charity’s important work and the latest local news.
The Cayman Alternative Investment Summit again attracted world-class delegates to Cayman earlier this year. The well-attended event highlighted the positives in Cayman yet also the challenges the industry faces from forces which are largely external.
Almost one year ago, Cassandra Powell, a director at Harbour, took the reins of the Cayman Islands Directors Association as president. Here, she tells Cayman Funds about the organisation’s activities and ambitions.
Ramona Bowry of Maples Fiduciary and Michael Richardson and Anna Goubault of Maples and Calder in the Cayman Islands describe the current regulatory backdrop and how the Maples group’s bespoke fund solutions can provide a smooth passage.
Fund managers will relish the new limited liability company which will function alongside Cayman Islands exempted companies and exempted limited partnerships, further strengthening Cayman’s position as the leading offshore funds domicile, say Simon Thomas and Richard Spencer of Campbells.
Fast-growing offshore law firm Harneys has boosted its Cayman Islands funds offering by hiring a team from Appleby. Ian Gobin, one of the new partners, spoke to Cayman Funds about his goals and the opportunities he sees ahead.
Alternative structuring arrangements for funds are attracting attention as managers look to find ways to reduce entry costs and deliver cost savings to investors, as Jennifer Parsons of Mourant Ozannes describes.
A number of potential changes for fund directors in the Cayman Islands are being driven, among other things, by a global shift towards transparency. One consequence of this could be an increased use of independent directors physically based in Cayman, as David Roberts from Cayman Management tells Cayman Funds.