Technical accounting
Resolve complex accounting questions and document practical conclusions.
Our services
Depth across the finance agenda
Four interconnected pillars bring specialist accounting, administrator oversight and senior finance leadership to private funds and alternative investment managers.
Priority engagements
Focused expertise for defined fund finance needs
Path’s primary engagements are focused projects and recurring senior oversight alongside your existing finance team and service providers.
Financial reporting & audit readiness
Strengthen financial statements, disclosures and reporting coordination.
Administrator oversight
Review deliverables and address NAV, fee and allocation issues.
Administrator transitions & launch readiness
Define responsibilities, validate reporting and assess readiness.
Interim leadership, director appointments and specialist regulatory or SOX mandates are considered selectively and scoped separately, subject to available capacity and the fit of the engagement.
Path pillar · 01
Fund Accounting Review & Oversight
Senior accounting review and administrator oversight for alternative investment funds.
Fund Accounting Review & Administrator Oversight
Work alongside your finance team and administrator to review reporting, challenge discrepancies and strengthen accountability.
- Administrator deliverable review and escalation
- NAV, performance and reconciliation review
- Targeted waterfall, carried interest, fee and allocation diagnostics
- Capital call, distribution and partner capital reporting oversight
- Management fee and expense allocation review
- Reporting responsibilities, service levels and review calendars
Fund Launch, Administrator Selection & Transition
Prepare the finance function for a new fund or administrator change, with clear responsibilities and evidence of reporting readiness.
- Fund launch finance and reporting readiness
- Administrator requirements, evaluation and selection support
- Responsibility mapping and transition planning
- Opening balance and reporting validation oversight
- Parallel reporting review and cutover readiness
- Selected restructuring and wind-down accounting and reporting support
Path pillar · 02
Strategic Finance & Transformation
Senior fund finance leadership and focused improvements to the finance operating model.
Fractional & Interim Fund Finance Leadership
Provide defined senior finance capacity alongside existing teams and service providers, through growth, reporting complexity or a leadership gap.
- Selected, separately scoped fractional CFO advisory and interim CFO / controller leadership
- Finance team and service-provider oversight
- Management company budgeting, fee revenue and profitability reporting
- Cash forecasting, liquidity analysis and treasury reporting oversight
- Management, board and investor reporting
- Financial reporting priorities and audit / tax-provider coordination
Fund Finance Operating Model, Systems & AI Enablement
Align responsibilities, reporting, controls and systems with the needs of a growing investment platform, including targeted reporting automation, workflow improvements and practical AI adoption with appropriate data controls and human review. Path’s role is advisory and oversight; technical implementation and ongoing system support remain with the client or its appointed provider unless specific additional responsibilities are expressly agreed.
- Fund finance operating model and process diagnostics
- Close, reporting and responsibility redesign
- Systems requirements and implementation oversight
- Data migration reconciliation review and user acceptance testing oversight
- Defined post-launch reporting checks and stabilization review
- Targeted reporting automation and AI-enabled finance workflow advisory, with appropriate data controls and human review
Path pillar · 03
Governance & Controls
Stronger financial controls, valuation governance and board-level oversight.
Internal Controls & Governance Advisory
Assess the control environment, define remediation priorities and improve financial oversight for management and boards.
- Controls assessments, risk and control matrices and walkthroughs
- Control deficiency assessment and remediation planning
- Remediation review and retesting within an agreed scope
- Finance policies, approval frameworks and board / committee reporting
- Selected, separately scoped SOX 404 / ICFR support for relevant entities and vehicles
- Selected, separately scoped board representation and independent director appointments
Valuation Governance & Controls
Review and challenge valuation processes, accounting, inputs and documentation for complex and Level 3 investments.
- Valuation policies and review / challenge frameworks
- Level 3 methodology and market-input review
- Price-verification controls and provider oversight
- Fair value hierarchy and supporting documentation
- Valuation committee governance and reporting
- Model governance and exception escalation
Path pillar · 04
Financial & Regulatory Reporting
Specialist technical accounting and fund financial reporting support.
Technical Accounting & Accounting Policy
Resolve complex accounting questions and document conclusions under the relevant U.S. GAAP or IFRS framework.
- Investment company accounting and accounting policies
- Complex investment and transaction accounting analysis
- Consolidation analysis and entity reporting conclusions
- Fair value accounting and disclosure matters
- New standards assessment and implementation support
- Technical accounting memoranda and management conclusions
Fund Financial Reporting & Audit Readiness
Support financial statement preparation, management-level review and resolution of reporting issues alongside administrators and external auditors.
- Fund financial statement preparation support and management-level review
- Financial disclosures, consolidations and supporting schedules
- Reporting calendars, PBC coordination and issue tracking
- Administrator, auditor and tax-provider information coordination
- SEC financial reporting support for relevant entities and vehicles
- Selected AIFMD, BEA, CIMA and BVI FSC reporting support under separately agreed mandates
Engagements with a defined purpose
The right structure depends on the priority, the responsibilities you want Path to take on and the support already in place.
Project advisory
A technical accounting conclusion, fee and allocation diagnostic, reporting issue, administrator transition or controls assessment. Deliverables, assumptions, milestones and revision limits are agreed at the outset; a diagnostic can first clarify an uncertain scope.
Ongoing oversight
Recurring senior review of reporting, administrator deliverables, valuation controls or management information. We agree the entities covered, review cadence, availability, escalation process and division of responsibilities.
Interim & fractional leadership
Senior fund finance capacity during a vacancy, growth or transition, with a defined remit for leadership, reporting and oversight. Responsibilities, time commitment, availability and decision authority are agreed separately, subject to capacity and assessment of any overlapping roles.
Scope, deliverables, timing and fees are agreed in writing. Examples illustrate possible engagements; the final scope determines which responsibilities Path undertakes.
Questions about working with Path?
Explore our services, engagement options and approach to working with your team and service providers.
Read the FAQs