Ernst & Young LLP has received the award for Best Audit Services in the 2012 HFMWeek U.S. Hedge Fund Services Awards and was ranked as the top audit and accounting firm in Hedge Funds Review's 2012 Service Provider Rankings.
This is the fourth consecutive year that the firm has been recognized by HFMWeek as the best in the audit/accounting services category and the second time it has been placed at the top of the Hedge Funds Review rankings.
"It's an honor for Ernst & Young LLP to be recognized as the preferred service provider in the industry again this year, and it speaks to our heritage of dedication to our clients throughout the life of their business – something we have been committed to for over a quarter-century," said Art Tully, Co-leader of the Ernst & Young organization's Global Hedge Fund Services.
"As the industry undergoes vast regulatory changes, our seasoned professionals continue to help hedge fund clients stay one step ahead and effectively meet regulatory, accounting, tax, technology, operations and investor demands."
The HFMWeek Hedge Fund Services Awards honor companies that have outperformed their peer group during the course of 2011–12. It is judged both quantitatively and qualitatively, resulting in a final shortlist of candidates that have demonstrated financial progress, growth, client satisfaction, genuine product innovation and adaptability. The finalists are determined by a panel of independent judges, made up of influential industry experts.
Now in its second year, the Hedge Funds Review Service Provider Rankings provide insight on the industry's preferred service providers. It surveys over 1,000 professionals, including hedge fund managers and investors, to reflect how they view the overall quality of service from their providers of fund administration, accounting, legal and custody services. The respondents surveyed reflect the broad global distribution of the hedge fund industry.
"These awards are a testament to our continuous efforts in providing high-quality audit and tax services to clients in the global hedge fund industry," said Mike Serota, Co-leader of the Ernst & Young organization's Global Hedge Fund Services. "Ernst & Young continues to evolve and develop its services to help clients meet market challenges and regulatory changes."
In addition to providing core audit and tax services, Ernst & Young firms offer a wide range of specialty services that can help clients manage risk and improve their organization's growth, tax efficiency and compliance.