Decision details

Update from the Local Pension Partnership on progress in implementing actions arising from internal audit work

Decision Maker: Pension Fund Committee

Decision status: For Determination

Is Key decision?: No

Purpose:

LPP's internal auditors have agreed a number of actions with LPP's management team arising from various audits. This report provides an update regarding progress.

Decisions:

An update report was presented on the implementation of Action Plans arising from an internal audit of the Local Pensions Partnership as discussed at the last meeting. The update was an item of urgent business as the report had not been finalised in time to be circulated with the main agenda and related to a decision taken at the last meeting which should not await the Committee on the 6th March 2020.

 

When considering the report the Committee noted the actions taken to address the issues highlighted by the audits and asked for further details regarding the findings of an external compliance consultancy which had reviewed the regulatory compliance of the Partnership.

 

Resolved:

 

1.  That the update on action by the Local Pensions Partnership Senior Management Team in response to four audits where processes had been identified as ineffective, as reported to the Committee in September 2019, are noted.

 

2.  That representatives from the Local Pensions Partnership be requested to provide further details on the findings of an external compliance consultancy review of regulatory compliance of the Partnership in response to one of the audits referred to at 1 above.

 

Divisions Affected: (All Divisions);

Contact: Abigail Leech Email: abigail.leech@lancashire.gov.uk, Ruth Lowry Email: ruth.lowry@lancashire.gov.uk.

Report author: Abigail Leech

Date of decision: 07/02/2020

Decided at meeting: 07/02/2020 - Pension Fund Committee

Accompanying Documents: