Report to:	Pension Board
Date of meeting:	16 November 2020
By:	Chief Internal Auditor
Title :	Internal Audit Report: Pension Fund: Governance, Strategy and Investments 2019/20
Purpose:	This report provides the Board with the outcome of the above audit
RECOMMENDATIONS The Board is recommended to note the Pension Fund Governance, Strategy and Investments 2019/20 audit report

1. Background

1.1       The review of Pension Fund: Governance, Strategy and Investments 2019/20 (Appendix 1) was completed as part of the Internal Audit Strategy for Pensions 2019/20.  The audit report aimed to provide assurance on the overall effectiveness of the system’s controls and to identify areas of concern or weakness where improvements could be made.

1.2       As a result of our work, we were able to provide an opinion of Reasonable Assurance over the controls in place.  Where areas of improvement were identified, management actions were agreed, together with timescales for their implementation.

2. Conclusions and Reasons for Recommendation

2.1       The Pension Board is recommended to note the Internal Audit report.

RUSSELL BANKS

Orbis Chief Internal Auditor

Contact Officer:          Nigel Chilcott, Audit Manager

Tel No.:                       07557 541803

BACKGROUND DOCUMENTS:

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