Assurance and financial reporting is key, and reporting with independent opinion gives confidence to trustees to support their governance processes.

Navigating the ever-changing regulatory landscape requires a tailored, responsive approach, focused on addressing your key challenges and risks. For us it is more than just a minimum compliance audit and this is our approach with clients.

We have an extensive client base, including over 50 schemes with assets in excess of £1 billion, and we act for 25% of the top 100 schemes in the UK. Our experience includes a full range of different benefit structures, outsourced providers, and investment portfolios that comprises assets within all the different asset classes available.

Our fully tailored audit and the latest “21st Century Trusteeship” initiative from The Pensions Regulator helps support trustees with their increasing governance standards.

Statutory audit to support 21st Century Trustee Governance

Our audit methodology ensures we focus on the key risks within financial statements. We provide succinct and effective communication throughout the year to ensure we discuss issues at the right time with the right people.

Minimum compliance statutory audit services

For small schemes we offer a minimum compliance audit serviced by a specialist central team.

For medium and large schemes we offer in-depth, tailored assurance, aimed at more than just compliance.

IT, Cyber Security and GDPR support

The value of personal data, and the potential reputational risk of the loss of member data, has never been higher and for this reason IT and cyber security are both a priority at present.

Internal audit services

Increasing governance requirements on trustees means statutory audits are not enough. Often specialist pension internal audit services are required. Our internal audit team has a wealth of experience in assisting trustees on either one-off specific additional assurance or full-outsourced internal audit functions.

AAF and ISAE Controls Assurance Services

We provide reporting accountant assurance under either the AAF 01/06 or ISAE 3402 frameworks to independent trustees, master trusts, investment managers, custodians, and pension administrators.

Risk register and governance support

We identify risks and their impacts, the mitigating controls available and help to develop an action plan. This helps trustee boards formally assess the risk of fraud, support the representation given to auditors each year, as well as produce an updated risk register in an easy to use format.

Benchmarking insight

Our significant client base means we can highlight best governance practice and compare client schemes with their peer groups. Many trustee boards find this very insightful as information is not publicly available for the majority of schemes, and it allows them to make their own comparisons.

Fraud risk mitigation

A review of wider risk management processes, including a specific focus on the assessment of fraud risk is becoming increasingly important. We can deliver training on pension scheme fraud risk, including how fraud can occur, effective ways to mitigate fraud, and warnings of potential fraud.

Trustee training

Our established position in the pensions sector makes us ideally placed to keep your trustee directors aware of emerging issues relevant to the scheme. We offer specific training on topical issues - recent examples that have proved very popular are VAT, GDPR, fraud risk, fiduciary management and risk management.

Non-Assurance services

We have authored the Industry Audit and Accounting Guide for Pension Schemes, now published by Croner-i-Ltd. It has been the key sector guide for over 20 years. 

Partner, Head of UK Pensions Neil Knights

+44 (0)20 7865 2873

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