Internal Audit

Supporting Trustees with assurance of their schemes procedures.

Increasing requirements for scheme governance means additional assurance in the form of internal audit is required. Our internal audit approach is delivered through co-sourcing, outsourcing or a combination of these approaches. We provide internal audit services to Trustees of large and complex pension schemes valued at £1 billion and over.

  • All pensions internal audit assignments are led by a specialist pensions partner.
  • We provide specialist support from colleagues specialising in pensions, internal audit, IT audit, forensic services, fraud resilience, cyber security and tax.
  • We work proactively with pension scheme audit and risk committees to develop robust internal audit assurance programmes. 
  • We help identify key risks and controls including new emerging risks arising from changes in practice or legislation.
  • We can advise about the ‘three lines of defence’ model developed by the Institute of Internal Auditors or, suggest alternative assurance models to suit your arrangements.
  • We advise how you can make your internal audit and other resources efficient and cost effective for a robust pension scheme assurance framework.

Our pensions internal audit service provides assurance that appropriate policies, procedures and controls are in place to mitigate key pension scheme risks as part of good scheme governance and supports the latest ‘21st Century Trusteeship’ initiative and Codes of Practice issued by the Pensions Regulator.

Contact us

Andrew Penketh
Andrew Penketh
Partner, Head of Pension Funds