Decision details

Internal audit assurance over the Local Pensions Partnership

Decision Maker: Pension Fund Committee

Decision status: Recommendations Approved

Is Key decision?: No

Purpose:

All seven of the audits for 2018/19 have now been reported by LPP's internal auditor and this report presents their outcomes.

Decisions:

The Head of Fund presented a report which updated the Committee on the findings of the review of all seven of the internal audits of the Local Pensions Partnership for 2018/19 as requested at the previous meeting. It was noted that substantial assurance had been given by the County Councils internal audit service with regard to the Authority's oversight of the Fund and the Partnership.

 

Mr T Richardson, Chief Risk Officer from the Partnership informed the Committee that four of the seven audits had resulted in an assessment of 'ineffective' and the Partnership's Senior Management Team was taking action across the group to address the matters arising from the audits and would submit regular reports to the Board.

 

Resolved:

 

1.  That the assurance from the Local Pensions Partnership's internal auditor, as set out in the report presented, and the action taken to date by the Senior Management Board in response to the issues raised are noted.

 

2.  That the County Councils Head of internal Audit liaise with the Chief Risk Officer from the Local Pensions Partnerships to produce a report for the next meeting to update the Committee on progress made in relation implementation of the Senior Management Board Action Plans.

 

Report author: Ruth Lowry

Date of decision: 20/09/2019

Decided at meeting: 20/09/2019 - Pension Fund Committee

Accompanying Documents: