Report to:	Pension Board
Date of meeting:	15 November 2022
By:	Chief Internal Auditor
Title:	Internal Audit Report - Pension Fund Governance 2022/23
Purpose:	This report advises the Board of the outcome of the attached audit.

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RECOMMENDATIONS

The Board is recommended to note the Internal Audit report on Pension Fund Governance 2022/23.

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1. Background

1.1       The review of Pension Fund Governance 2022/23 (Appendix 1) was completed as part of the Internal Audit Strategy for Pensions 2022/23 and provides assurance on the overall effectiveness of the system’s controls.  This is the first report of the 2022/23 audit plan.

1.2       As a result of our work on Pension Fund Governance 2022/23, we were able to provide an opinion of Substantial Assurance over the controls in place, as we have in previous years, and this reflects the robustness of controls over the Fund’s governance.  The report contains a single, low risk, finding.

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

Contact Officer:          Danny Simpson, Principal Auditor     

Tel No.:                       07701 394826

BACKGROUND DOCUMENTS:

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