The investment industry is an important sector in many economies.

Fund management companies invest funds on behalf of their clients such as financial institutions and pensions funds.

Fund accountants work for fund management companies and related businesses such as private equity funds.

Fund accountants:

  • keep accurate accountancy records for the investment funds
  • control and record the buying and selling of the investments 
  • control and record transactions such as dividends and interest received 
  • create financial reports detailing the performance of the funds for internal and external use.

Entry and progression

Working in the financial services sector, fund accountants fulfil an important role in accounting for and reporting on the assets under management.

Entry positions are available for graduates; however, employers will expect fund accountants to qualify and be a member of a professional accountancy body such as ACCA.

ACCA develops the skills and knowledge required by forward thinking professional accountants, including fund accountants.

Exam options

For those who work as a fund accountant, or aspire to be a fund accountant, the most relevant exam options are:

Performance objectives

Remember it’s not just about exams. You need to have the right experience so that you are competent – you have the experience and knowledge – to start and continue your fund accountant career.

Performance Objectives (PO) which would provide great experience and must be signed off as part of the Practical Experience Requirement (PER) could include:

Competencies

High level competencies required by fund accountants include:

  • Governance, Risk and Control

    A. Evaluates organisational structures and governance to protect the long-term interests of stakeholders.

    B. Recommends appropriate strategies to ensure adherence to governance structures and application of best practice internal controls.

    C. Identifies and manages risk appropriately.

    D. Uses risk management for the best interests of an organisation and its stakeholders.

    E. Monitors and applies relevant legislation, policies and procedures.
     

  • Stakeholder Relationship Management

    A. Positively develops relationships with internal and external stakeholders.

    B. Communicates and gains commitment from internal and external stakeholders.

    C. Uses emerging technologies to collaborate and communicate effectively with stakeholders.

    D. Applies professional and ethical judgement when engaging with stakeholders.

    E. Aligns organisational strategic objectives with stakeholder needs and manages expectations.
     

  • Ethics and Professionalism

    A. Develops advanced ethical values and professional skills in the promotion of public interest and the profession.

    B. Demonstrates personal effectiveness in fast changing environments.

    C. Encourages innovative thinking within the context of professional scepticism.

    D. Thinks proactively about the future, applying professional judgement and commercial intelligence and seeks specialist input when needed.

    E. Communicates effectively and influences others.