POWERS OF COMMITTEE
1.
Risk
Management
The Committee will:
1.1
ensure effective risk management of the
Fund;
1.2
set the investment objective and strategy
in light of the Funds liabilities and appoint or remove Fund Managers or new vehicles in furtherance of
the strategy; and
1.3
ensure
that an effective system of internal
financial control is maintained.
2.
Internal and External
Audit
The Committee will:
2.1
approve the annual audit plans;
and
2.2
consider all
reports prepared by the Council's Internal and External Auditors in
relation to the Pension Fund.
3.
Annual Report and
Accounts
The Committee will:
3.1
review
and approve the annual report and
accounting statement.
4.
Legal
obligations
The Committee will ensure:
4.1
compliance with the Local Government
Pension Scheme (Scotland) Regulations as amended and with all other
legislation governing the administration of the Fund;
and
4.2
adherence to
the principles set out in the Pension Regulator’s Code of
Practice.
5.
Scrutiny
The Committee will:
5.1
monitor the performance of Fund Managers;
and
5.2
determine applications for Admitted Body status.
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