Explorer

The issuer used various service organizations for the custody recordkeeping and processing of certain investment transactions and these service organizations used sub-service organizations for certain functions. The firm obtained the service auditor's reports for each of these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. The following deficiencies were identified: · The firm selected for testing a control over the review of monthly investment reconciliations. The firm did not identify and test any controls over the accuracy and completeness of certain reports used in the operation of this control. (AS 2201.39)

The firm selected for testing a control that consisted of the issuer's review of certain AFS securities for potential impairment. The firm did not identify and test any controls over the accuracy and completeness of certain information used in the operation of this control. (AS 2201.39)

The issuer held investments in multiple unconsolidated entities including certain entities that were managed by the issuer. The following deficiencies were identified: · The firm selected for testing a control over the issuer's disclosure of these investments. The firm did not identify and test any controls over the accuracy and completeness of an issuer-prepared schedule that the control owner used in the operation of this control. (AS 2201.39)

The issuer held investments in multiple unconsolidated entities including certain entities that were managed by the issuer. The following deficiencies were identified: · The firm selected for testing a control over the valuation of the investments in unconsolidated entities managed by the issuer. The firm did not identify and test any controls over the accuracy and completeness of the unconsolidated entities' financial statements that the control owners used in the operation of this control. (AS 2201.39)

The issuer held investments in multiple unconsolidated entities including certain entities that were managed by the issuer. The following deficiencies were identified: · The firm used the unconsolidated entities' financial statements and the issuer-prepared schedule in its substantive testing of these investments but did not perform any procedures to test or test any controls over the accuracy and completeness of this information. (AS 1105.10)