Form N-CEN - Annual Report for Registered Investment Companies
June 11 2024 - 10:25AM
Edgar (US Regulatory)
REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To
the Shareholders and Board of Trustees of
Destra
Multi-Alternative Fund
In
planning and performing our audit of the financial statements of Destra Multi-Alternative Fund (the “Fund”) as of and for
the year ended March 31, 2024, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB),
we considered the Fund’s internal control over financial reporting, including controls over safeguarding securities, as a basis
for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements
of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial
reporting. Accordingly, we express no such opinion.
The
management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling
this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls.
A fund’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles (GAAP). A fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to
the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets
of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements
in accordance with GAAP, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management
and trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition,
use or disposition of a fund’s assets that could have a material effect on the financial statements.
Because
of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of
any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions,
or that the degree of compliance with the policies or procedures may deteriorate.
A
deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material
weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable
possibility that a material misstatement of the Fund’s annual or interim financial statements will not be prevented or detected
on a timely basis.
Our
consideration of the Fund’s internal control over financial reporting was for the limited purpose described in the first paragraph
and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established
by the PCAOB. However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including
controls over safeguarding securities, that we consider to be a material weakness as defined above as of March 31, 2024.
This
report is intended solely for the information and use of management and the Board of Trustees of the Fund and the Securities and Exchange
Commission and is not intended to be and should not be used by anyone other than these specified parties.
COHEN
& COMPANY, LTD.
Cleveland,
Ohio
May
30, 2024
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