Auditors grapple with changing environment
Business is not quite as usual for Cayman accounting and auditing firms. Although the expected number of liquidations and litigations have not materialised, the accounting community is busy with restructuring and looking forward to a pick-up in fund launches.
Accountants and auditors in the Cayman Islands are not seeing a big fall-off in demand or an increase in the liquidation of funds, according to Anthony Cowell, partner in audit, financial services at KPMG. However, Cowell is less than sanguine. He believes around a third of funds could go into liquidation, victims of a combination of high redemptions and unprecedented volatile markets in 2008.
While Cowell does not expect to see the same level of start-ups as in the past, there are some new
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