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Assurance and financial reporting is key, and using an experienced pension auditor gives confidence to trustees to support their governance processes.

Read the latest insights from our pensions team

Navigating the ever-changing regulatory landscape requires a tailored, responsive approach to pensions assurance, 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.

We continue to author 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. 

Our fully tailored audit supports the latest “21st Century Trusteeship” initiative from The Pensions Regulator, assisting trustees with their increasing governance responsibilities.

Statutory audit to support 21st Century Trustee Governance

Our innovative audit methodology ensures we focus on the key risks within financial statements. We are efficient without over delegating to junior members of the team. This results in a robust audit supported by succinct and insightful observations. Our extensive experience of some of the largest schemes in the UK, means we can add value by benchmarking best practice. We have the full breadth of specialist support (eg Actuarial, IT, investment valuation) which we regularly utilise on some of the most complex schemes in the UK.

Minimum compliance statutory audit services

For trustees seeking just minimum compliance audit, we offer a highly efficient audit serviced by a specialist UK based central team, focused on the pension sector alone.

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 controls and cyber security are both a priority for many schemes at present. Our IT team has extensive experience of assisting pension scheme trustees in this area.

Internal audit services

Increasing governance requirements on trustees means additional assurance is required, something that the Employer Internal Audit team are insufficiently experienced to address. This is where our specialist pension internal audit services are required. Our internal audit team can support 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 help trustees, audit committees and management teams identify risks and summarise them in a useful succinct way. This is so the risk register can be used as a working document focused on actions and sharing sector experience rather than excessive detail. This helps trustee boards ensure their scheme risks are considered across all relevant areas, as well as ensuring risk registers remain up to date through regular challenge and review.

Benchmarking insight

Our significant client base means we can highlight best governance practice and compare client schemes with their peers. 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 and action accordingly.

Fraud risk mitigation

We help trustee boards formally assess the risk of fraud and support the representation given to auditors each year. We can also deliver training on pension scheme fraud risk, including how fraud can occur / has previously occurred, effective ways to mitigate fraud risks, and possible warning signs 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 cyber security.

Non-Assurance services

Partner, Head of Pensions

Neil Knights

+44 (0)20 7865 2873

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