Issue - meetings

The Committee had before it a report by Internal Audit which presented the planned Internal Audit report on Pension Governance.

The Committee heard from Mr David Hughes who spoke to the report.  It was noted that the Service had not accepted two of the recommendations from Internal Audit, namely the opportunity to discuss risk registers and risk management annually, as the quarterly risk register was presented to Committee in the Strategy report, and ensuring that statements of Internal Controls were obtained annually as the Service had responded that the cost involved in producing these would be significant to smaller fund managers.  Mr Hughes advised that they had noted the response and did not have significant concerns about the recommendations not being agreed.  It was noted that it was incumbent on Internal Audit to make recommendations but appropriate for management to have the ability not to agree all recommendations.

The report recommended:-

that the Committee review, discuss and comment on the issues raised within the report and appendix.

The Committee resolved:-

to note the report.

The Board resolved:-

to note the decision of the Committee.