The annual statutory audit of a scheme’s financial statements is a legal requirement of the Pensions Act 1995 and we will audit any size and type of pension scheme, whether it be defined benefit, defined contribution, or a hybrid scheme.
Good quality member records are crucial as incorrect or incomplete member records can result in incorrect financial transactions and we will advise on record keeping and the expectations of the Pensions Regulator.
We support the trustees to ensure that they meet their duties to members and liaise with pension scheme managers to make sure that we perform our duties effectively.
Our risk-based approach pinpoints the key risk areas. Any significant deficiencies that we find will be reported to the trustees in our management letter at the end of the audit.