The need usually appears when the structure has a specific issue but no single existing provider owns the solution end-to-end. This can happen during a launch, a service-provider transition, an audit, a regulatory remediation project, a transaction, a restructuring or the preparation for liquidation.

Governance work can include reviewing the board operating model, decision-making and delegation framework, board packs and minutes, conflicts processes, action logs, service-provider oversight and the allocation of responsibilities between the fund, GP, AIFM and delegates. The objective is not to add meetings or paperwork; it is to make sure the governance framework reflects how the structure actually operates and that issues have clear owners.

A fund may discover overdue investor reviews, incomplete asset-side AML/KYC, outdated policies, missing risk assessments, weak delegate oversight, unresolved PEP or sanctions cases, or findings raised by an AIFM, auditor, RC or regulator. Amana can help map the backlog, risk-rank the items, design a remediation plan, perform or coordinate targeted file reviews and testing, update the control framework and track the work through to documented closure.

Regulatory projects often require someone who understands both the rule and the operating consequences. Examples include preparing for CSSF or AED reporting cycles, implementing new Luxembourg requirements, assessing the impact of a change of AIFM or service provider, organising the evidence behind a regulatory response, or building a compliance calendar after a structure has grown more complex. Where formal legal advice or a regulated activity is required, Amana works alongside the relevant counsel or regulated provider.

Accounting issues can become governance issues very quickly when they delay annual accounts, NAVs, distributions, audit sign-off or liquidation. Drawing on Big Four audit and senior fund-administration experience, Amana can help the sponsor and board understand the issue, challenge or clarify the accounting analysis, coordinate with the fund administrator or accountant, work through open points with the auditor and keep responsibility and deadlines visible until the matter is closed. Amana does not replace the auditor or accounting provider; it helps the client navigate the issue from a senior, practical perspective.

Typical assignments may include: a short-term AML/KYC remediation project; clearing an audit backlog; redesigning a board or compliance calendar; reviewing responsibilities before changing an administrator or AIFM; preparing a fund or SPV for liquidation; helping a foreign AIFM implement Luxembourg-specific controls; coordinating the response to an AED, CSSF, auditor or depositary finding; or providing temporary senior support while the client recruits or rebuilds an internal function.

The advantage is flexibility. The client gets experienced support for the period in which it is actually needed, without creating a permanent headcount or adding another full-service provider to the structure. The assignment can be narrow and technical or can involve broader coordination across several workstreams.

Amana combines experience from Big Four audit, Luxembourg fund administration and independent governance. That cross-functional background is particularly useful when the issue sits between accounting, governance, compliance and regulation and cannot be solved by looking at only one of those disciplines.

Our role is to understand the problem quickly, define a proportionate remediation plan, work with the client and existing providers to execute it and leave the structure with clearer ownership, evidence and controls once the project is complete.