Mutual funds - invested
This query is : Resolved
Alan Angels Augustine
(Querist)
22 December 2011
Can anyone tell me how to deal with the investment item - Mutual Fund while doing the audit. What are the additional documents to be verified. And what measures to be taken if it has been fully redeemed? Is there any fixed period or can redeem at any time? How to know all these? What are the supporting documents to be asked for?
Guest
Guest
(Expert)
23 December 2011
23rd December, 2011
1. You should rely on the Mutual Fund Investment document and read its terms and conditions.
2. You can verify the amount invested appearing on the Investment Certificate and the number of units allotted.
3. Unless otherwise stated, Mutual Fund Investments can be redeemed anytime depending on the prevailing market Net Asset Value.
4. Check whether investment proceeds are credited to the entitity's account at the time of redemption of the units.
FCA Prashant Chavan
1. You should rely on the Mutual Fund Investment document and read its terms and conditions.
2. You can verify the amount invested appearing on the Investment Certificate and the number of units allotted.
3. Unless otherwise stated, Mutual Fund Investments can be redeemed anytime depending on the prevailing market Net Asset Value.
4. Check whether investment proceeds are credited to the entitity's account at the time of redemption of the units.
FCA Prashant Chavan
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