Do take note of what I said about you can save some money by doing inhouse the paper works for the preparations of the set of accounts for your fund, assuming you have some basic knowledge on the bookkeeping side. It is not hard to prepare the set of accounts in the format required for the audit.
If you don't already have it, ask your accountants for a breakup of the fees between accounting works and audit work. As a client, you have the right to ask for an itemised bill, they can't refuse your request.
