Issue - meetings

10.1     The Board considered the audit report presented by Danny Simpson (DS) and noted the following points:

1) The audit of the Pension Fund Cash Management received an opinion of  Substantial Assurance.

2) The audit of Administration of Pension Benefits received an opinion of Reasonable Assurance.

3) Neither audit resulted in any high or medium risks. It was noted that some minor risks in the administration of benefits to be inevitable due to the volume of work undertaken.

4) RM asked if the finding from a prior audit on approval of payment from the Pension Fund had been resolved. Officers confirmed that practices have been updated so that only pension fund officers can authorise payments.

10.2     The Board RESOLVED to note the:

1) Pension Fund Cash Management Audit report and;

2) Administration of Pension Benefits Audit report.