Tailored audit services
Designed for asset management,
finance and fund industries

Assurance Services

Valaston delivers a comprehensive suite of global assurance services, for funds and asset management firms, including Financial Audit, Internal Audit and Risk Assurance. We are licensed to operate across a wide selection of jurisdictions including Cayman Islands, Ireland, Netherlands, Singapore and the UK.  

Our assurance team of qualified and experienced audit professionals, operate at the highest standards of independence and ethics. Drawing on a global network of Valaston experts, resources and industry knowledge, we provide clients with highly tailored and scalable solutions at the pace and quality that matches their unique requirements. With Valaston you benefit from our focus on investment funds and SPVs. Our specialism ensures that we bring the most robust and proven technical expertise, in complex alternative investment classes, including fast-evolving digital assets. 

Financial Audit

Improve stakeholder confidence with an independent review of your organization’s financial statements, ensuring alignment with IFRS, US GAAP, Lux GAAP, Dutch GAAP, or other local frameworks. Valaston’s team of experts also assess the effectiveness of your internal control. This identifies any material weaknesses or significant deficiencies that may impact reliability. By moving beyond basic compliance requirements, Valaston’s financial audit services strengthen transparency and trust, positioning your organization for sustained growth and success. 

Internal Audit

Elevate your organization’s internal audit capabilities with a dedicated team of proven senior experts. Valaston can either manage internal audit activities on your behalf or co-develop solutions alongside your in-house team. An independent assessment is also available to evaluate your current internal audit function, identifying opportunities for improvement. By focusing on critical risk management, governance, and control processes, Valaston’s tailored approach, personally led by our senior consultants, fosters greater confidence, resilience, and long-term success for your organization. 

Risk Assurance

Proactively safeguard your organization’s operational, reputational and financial resilience by identifying, assessing, and managing keys risks and risk management processes. Valaston’s experienced risk consultants provide assurance on your risk management framework, policies, and procedures. Our work ensures robust governance, clear accountability, and resilience. With a collaborative and accessible approach led by proven consultants with deep expertise in investment funds and SPVs, we work alongside you to manage risk effectively, enabling sustained financial performance. 

“We’ve built a uniquely international audit and assurance team and processes, all rooted in the deepest possible investment fund expertise. We’re driven to help clients identify risks, enhance core compliance, and most importantly to build frameworks for sustained investment performance.” Gráinne Twomey, Head of Assurance, Partner Contact Grainne

Alternative Investment Funds (AIFs)

With over 20 years of experience in auditing Alternative Investment Funds (AIFs) we are recognized leaders in this space. 
Collaborating with over 20 global fund administrators, we have built extensive expertise in advanced fund structures. As a specialist in fund audits operating across all major jurisdictions, we support international funds and complex investment types across a wide range of asset classes. 

Innovative approach and methodology 
Our specialist global fund audit team employs innovative testing techniques and technology to deliver a tailored approach to your audit challenges. With consistent access to our senior auditors, we focus on providing expert, independent judgments, timely communication, and value-added recommendations. 

Scope of services:
We provide audit services to alternative and private investment funds, including:

• • Long-short funds
  • Series funds
  • Fund-of-funds structures
  • Private equity funds
  • Offshore and international funds
  • Master-feeder funds
  • Venture capital funds
  • Multi-managed funds (using multiple investment managers/sub-advisers)
  • Multi-class funds

Complex investment types and strategies:

• • Fixed income and debt instruments
  • Private equity investments 
  • Investments in investment companies: investment partnerships, limited liability companies, and fund-of-funds 
  • Arbitrage funds 
  • CTA and Derivative strategies

At Valaston, we see each alternative investment fund audit as an opportunity to leverage our deep domain expertise, advanced methodologies, and global perspective – ensuring clarity, compliance, and continued growth for our clients. 

“Auditing alternative investments requires a specific skill set. At Valaston, we bring extensive industry knowledge to the table, having worked across all major alternative asset classes and regulatory frameworks” Paul Kinsella, Partner, Ireland & UK Contact Paul

Digital Asset Services

Our audit solutions help you navigate the increasingly complex and evolving world of digital assets, blockchain and cryptocurrencies.

An evolving complex market, enabled by experts
The rapid evolution of digital assets and distributed ledger technologies, which now encompass much more than just cryptocurrencies such as Bitcoin, introduces new complexities for financial reporting and audit. Volatile markets, evolving regulatory frameworks, and diverse, novel asset classes have heightened the need for a robust, forward-looking audit approach. 

Valaston’s in-house digital asset specialists, and our continuous focus on developing our digital and crypto-asset knowledge base, help clients meet these demands. We begin every audit cycle by examining your fund structure holistically to fully understand objectives, operations, and specific financial reporting challenges. 

We have built a dedicated global team of professionals with deep expertise in digital assets investment strategies such as Decentralized Finance (DeFi), Derivative Arbitrage Strategies, Venture Capital and Tokenisation. This team has created tailored processes for auditing digital asset funds, in all major jurisdictions, while leveraging our deep existing expertise in complex alternative assets. 

The Valaston approach is proactive and adaptive. We have proven techniques for recognizing and managing the distinctive characteristics, risk profiles and volatility of digital assets. 

Digital asset services:

• • Auditing financial statements for private and mutual funds: Ensuring compliance with all relevant standards and effectively addressing valuation and disclosure issues
  • Auditing financial statements for Web3 and VASP regulated companies: Verifying operational data, ensuring compliance and addressing disclosure issues 

“We believe that an audit partner in the digital assets and blockchain space who stays ahead of regulatory developments, offering a comprehensive, adaptive service can deliver much more than a compliance solution.” Jerry Dee, Partner, Cayman Islands Contact Jerry

Structured Finance & SPVs

We are a leading provider of audit services for large SPVs owned by multinationals, securitization vehicles, private equity firms, infrastructure vehicles, and financing vehicles. 

We have designed specialized audit processes for valuing private equity investments, including the existence, ownership and fair value of assets. Our approach is well-paced, highly detailed, and pragmatic, delivering expert opinions and judgments. Senior auditors lead the delivery of all our work, supported by global teams of qualified Valaston associates. This ensures we have the flexibility to scale our services, operating at your preferred pace. 

SPV audit services

• • Public and private infrastructure development projects
  • Energy and utilities
  • Transport 
  • Healthcare 
  • Aircraft leasing and finance 
  • Real estate development  

“Over 20 years we have created a mix of global SPV expertise, advanced processes and a unique collaborative spirit. We believe we are positioned to provide the most effective SPV audit service in the market.” Ross McLoughlin, Partner, Ireland & UK Contact Ross

Singapore VCC & Private Company Audits

Our specialist audit teams brings a customized risk-based and practical approach to auditing Variable Capital Companies (VCCs), Singapore SPV structures and Fund Management entities licensed with Monetary Authority of Singapore (MAS).  

VCC audit service
Variable Capital Companies (VCCs) are flexible, cost-effective, and confidential corporate structure for investment funds in Singapore. The VCC scheme accommodates both open-ended and closed-end fund structures and can be established as a standalone fund or an umbrella fund with multiple sub-funds tailored to suit diverse investment strategies. To remain compliant, a VCC must be managed by an approved fund manager in Singapore licensed and regulated with MAS.  

Our services
We provide financial statements audit and assurance services for VCCs, Singapore SPVs and Fund Management Entity in accordance with Singapore Standards of Auditing (SSAs) and in accordance with VCC Act, Companies Act and Securities Futures Act.  

With our deep expertise in auditing investment funds, proven track record, robust yet practical audit methodologies and approaches, unwavering commitment to timelines, we are a preferred assurance solution provider for fund managers in Singapore. We ensure seasoned senior professionals working with you personally on each audit to provide quality value added audit and assurance solutions to you.

“We combine a robust yet practical approach to our audit while continually building our expertise in both traditional and alternative investment asset classes including niche expertise in areas such as digital assets. Our clients benefit from timely and best-class audit practices.” Rajaraman Arumugan, Director, Singapore Contact Rajaraman

Cayman & BVI Fund Audits

Transparency, timeliness, and compliance are critical aspects of investment governance. Valaston’s experts guide you through these processes with a local team of proven specialists. Valaston is regulated by the Cayman Islands Monetary Authority (CIMA) and the BVI FSC to act as auditor. Everything we do locally is also backed by the scale and infrastructure of Valaston’s global team and expertise.

Cayman Islands audit services
Our team delivers trusted Cayman audit services, backed by our hallmarks of leadership continuity, deep sector expertise, and dedicated service across audit cycles. Cayman Islands registered Mutual Funds and Private Funds must have their financial accounts audited and filed annually by a CIMA-licensed auditor, within six months of financial year end. This process promotes transparency and adherence to the highest standards of accountability.

British Virgin Islands (BVI) audit services
Valaston provides regulator-approved audit services for investment entities governed by the BVI Financial Services Commission (FSC), including hedge funds licensed as public, private, or professional funds. Unless exempt, FSC-regulated funds must appoint an auditor and submit annual audited financial statements within six months of the end of the financial year.

“At Valaston we pride ourselves on our deep local knowledge and our global capability. Because we are specialists in funds and SPVs it allows us to deliver truly robust and independent audit outcomes.” Jerry Dee, Partner, Cayman Islands Contact Jerry

UCITS

Valaston are expert providers of audit services for UCITS.

A UCITS structure is a regulated investment fund framework under EU law that allows collective investment schemes to be marketed across the EU and beyond, subject to strict rules on investor protection, liquidity, and risk diversification. UCITS Funds can be structured as standalone funds or as umbrella funds with multiple sub-funds, each pursuing different strategies but operating under a single legal entity. They are typically open-ended and offer enhanced liquidity, making them suitable for retail and institutional investors alike.

Our expertise
Valaston’s team of proven audit experts can:

• • Audit your UCITS Fund financial statements in accordance with International Standards on Auditing 
  • Review UCITS compliance with the applicable Irish laws, regulations and tax incentives
  • Advise on best practices and regulatory standards 

Specialized audit program
Valaston is an investment fund audit specialist. We have developed sector-leading capabilities with a bespoke audit program for UCITS, taking a risk-based approach.  As a Valaston client you will benefit, not only from the independence and clarity of our judgements, but also from consistent senior auditor engagement on your account, proven robust processes and a commitment to all agreed timelines.

Extensive experience
We have extensive experience in auditing UCITS Funds across a wide range of strategies. Our team has deep expertise in navigating the regulatory, financial reporting and valuation requirements specific to UCITS structures, ensuring compliance with financial reporting standards as well as adherence to the EU UCITS Directive and associated risk and transparency standards.

“UCITS offer greater liquidity but also have wider regulatory obligations. Because we’re specialists, we’re able to navigate clients through a UCITS audit process with greater confidence.” Paul Kinsella, Partner, Ireland & UK Contact Paul

Internal Control

At Valaston, we believe in enhancing your fund’s future prospects by thoroughly understanding your organization and its operations. Our global team of specialists, with deep expertise in investment funds and SPVs, helps you pinpoint potential vulnerabilities, such as process inefficiences, errors, or even fraud risks. By taking a proactive, hands-on approach, our professionals ensure that the controls you implement today will safeguard growth, adaptability, and peace of mind for tomorrow.

How we add value:

• Risk-focused assessments: We evaluate business processes and highlight areas most susceptible to error or fraud. This risk-based perspective is critical for enhancing the accuracy of financial reporting
• Comprehensive control documentation: Valaston specialists systematically map out all core procedures, assigning responsibilities and identifying control gaps that could lead to operational or regulatory challenges
• Tailored recommendations: We propose practical enhancements to your existing controls or guide you in establishing new frameworks that mitigate risk, enhance efficiency and safeguard compliance
• Holistic testing & monitoring: Through rigorous testing, we confirm that controls are functioning as intended and help maintain standards over time
• Independent audits & assessments: Beyond standard control reviews, we offer objective evaluations of your internal audit function, recommending improvements to reinforce risk management, governance, and control processes
• Global service In-person expertise: As a global firm, we span key financial hubs worldwide, allowing us to serve you on-site and in real time, with a deep understanding of local regulatory requirements

Internal control services:

• • • Control documentation
    • Control testing
    • Risk assessments
    • Process documentation
    • Control recommendations
    • Internal control training

“Strong internal controls aren’t about checking boxes. They’re about empowering teams to act confidently and decisively in any environment.” Bauke Hoogland, Director, Netherlands Contact Bauke