NEW YORK, Jan. 17, 2013 /PRNewswire/ -- Ernst & Young LLP, a leading service provider for start-up and established hedge funds, 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. The Hedge Fund practices of the global Ernst & Young network consist of dedicated professionals who serve the asset management industry across key financial centers in North America, South America, the Caribbean, Europe and Asia. Ernst & Young's wide-ranging and diverse global clients employ all strategies – from long/short equity funds to the most complex global fixed income and derivatives funds, as well as funds of funds.
Ernst & Young is a leader in serving the global financial services marketplace
Nearly 35,000 Ernst & Young financial services professionals around the world provide integrated assurance, tax, transaction and advisory services to our asset management, banking, capital markets and insurance clients. In the Americas, Ernst & Young is the only public accounting organization with a separate business unit dedicated to the financial services marketplace. Created in 2000, the Americas Financial Services Office practices today include more than 4,000 professionals at member firms in over 50 locations throughout the US, the Caribbean and Latin America.
Ernst & Young professionals in our financial services practices worldwide align with key global industry groups, including Ernst & Young's Global Asset Management Center, Global Banking & Capital Markets Center, Global Insurance Center and Global Private Equity Center, which act as hubs for sharing industry-focused knowledge on current and emerging trends and regulations in order to help our clients address key issues. Our practitioners cover many disciplines and provide a well-rounded understanding of business issues and challenges, as well as integrated services to our clients.
With a global presence and industry-focused advice, Ernst & Young's financial services professionals provide high-quality assurance, tax, transaction and advisory services, including operations, process improvement, risk and technology to financial services companies worldwide.
It's how Ernst & Young makes a difference.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 167,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
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Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
This news release is issued by Ernst & Young LLP, a member firm providing services to clients in the US.
SOURCE Ernst & Young LLP