Issue - meetings

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

1)    The review of Financial Controls was completed as part of the Internal Audit Strategy and Plan for Pensions 2024/25 and provides assurance on the overall effectiveness of controls.

2)    An opinion of Substantial Assurance over the controls in place was provided.

Annual strategy plan

3)    75 days of work planned for 2025/26 as per last year which was agreed in consultation with the chairs.

4)    Officers will be reviewing the preparedness for the pooling reforms and ensuring that the required pace can be achieved. It was agreed that these pieces of work could be done in parallel towards the end of Q1 and into Q2 whilst noting that the full scope of what is required may not be fully known at Q1.

5)    The administration of pension benefits will be audited as the volume of work is so significant is so high and it’s the key role of the team.

6)    Cyber security will be considered as part of the audits the team will undertake.

65.2     The Board RESOLVED to note the report.