In seeking an auditor for a Cayman exempt fund we manage in advance of the impending deadline for registering with CIMA, a colleague of mine recently reached out by email to a number of Cayman approved auditors, requesting a quotation. Of those that did reply, the disparity in the fee quoted was huge.
For any fund in the same situation, it would certainly seem sensible to shop around. Interestingly, the vast majority of firms contacted didn’t respond at all.
Notwithstanding EU blacklisting earlier this year, it appears there’s no sentiment in Cayman that the hedge fund gravy train is about to end anytime soon.