External Audit: Lancashire County Pension Fund Audit Plan 2019/20
Decision status: Recommendations Approved
Is Key decision?: No
Paul Dosset Partner, Grant Thornton presented a report detailing the Lancashire County Pension Fund Audit Plan 2019/20 provided by the council’s external auditors, for the year ending 31 March 2020.
It was highlighted that the report set out the key headlines, significant risk areas, materiality and audit time scales. It was emphasised that the risk identified regarding the valuation of level three investments, was always a significant area of focus and was even more so in the current economic climate. There was no change to the materiality level and a straightforward audit was anticipated. The audit would be discussed in detail with pension fund and investment managers.
Resolved: That the Lancashire County Pension Fund Audit Plan 2019/20, as presented, be noted by the Audit, Risk and Governance Committee.
Date of decision: 27/07/2020
Decided at meeting: 27/07/2020 - Audit, Risk and Governance Committee