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New pension scheme internal audit guidance
A working party of the County Chief Auditors Network (CCAN) and Lead Authority Working Group on the Audit of Investment Managers (LAWGAIM), supported by funding from the Society of County Treasurers (SCT), has produced updated guidance for internal auditors working with Local Government Pension Scheme administering authorities.
Led by Duncan Savage, Assistant Director (Audit and Performance) at East Sussex County Council, the working group, with input from the Audit Commission, PWC and CIPFA, has built upon existing shared audit arrangements (largely aimed at gathering assurance on investment management activity) to produce, for the first time, internal audit guidance that considers all aspects of pension scheme administration.
Although written specifically with local government pension scheme auditors in mind, internal auditors working with other public sector schemes may also find elements of the guide useful to their own work.
The guidance, approved by the SCT, is available to download below in PDF format, with Appendix C (Risk and Control Matrix) also available as an Excel file for those organisations wishing to tailor it for their own use.
Pension scheme internal audit guidance(PDF)
Appendix C – Risk and Control matrix (Excel)
The guidance has also been incorporated into the TISonline Internal Audit stream where it will be updated from time to time via the stream editorial board. For more information on TISonline please visit www.tisonline.net.
(Updated 14 August 2007)
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