ICI Urges Audit Firms to Forego Schedule of Investments Says Ignites. Mutual fund news service ignites.com informs us that the Investment Company Institute is lobbying the AICPA (American Insitute of Certified Public Accountants, writing recently to "enable money market funds to omit the schedule of investments from their shareholder reports, consistent with recent SEC rule changes". Friday's ignites.com article, "Money Market Proposal Could Save Firms Millions" says the change "would spare fund shops from having to include investment schedules in their shareholder reports" and could save fund groups millions in printing costs. The AICPA still requires portfolio holdings to be listed for fund's mandatory annual audits, though the SEC modified its requirements in 2004 to allow money funds to omit these schedules.

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