Agenda item

Audit Update

An update on 2022/23 audit plan activity and audit recommendations for 2021/22. Presented by the Head of the Wiltshire Pension Fund & the Fund Governance and Performance Manager.

a)    SWAP Key Financial Controls 2021/22 actions

b)    Audit progress 2022/23

                                      i.          SWAP Pension Payroll Reconciliation

                                     ii.           TPR self-assessment

                                   iii.          Statutory Returns

                                   iv.          Brunel cost savings

Minutes:

A report was received updating the Board on the progress of 2022/23 audits commissioned by the Wiltshire Pension Fund Committee, and the actions log of SWAP key financial controls audit March 2022.

 

Details were presented as set out in the report. The Board discussed revised dates for actions 2-7 as set out in appendix 1 of the report and if these would remain on track for the end of December 2022. These actions relating to Contribution & Projects were discussed and officers felt confident that the deadlines could be achieved. With regard to the other actions it was noted that officers also felt confident that those target dates could be achieved too, where these outstanding actions where within the control of Fund officers and not 3rd parties. Queries were also raised on reductions in the operational backlog. In this respect officers confirmed that 3rd party service providers had now been appointed in respect of both the identified backlog areas. In additional, further discussions would be held with SWAP at part of their 2022/23 key financial controls audit, which would include revisiting the recommendations made during their 2021/22 audit.

 

Regarding audits and self-assessments commissioned by the Committee for 2022/23, officers confirmed that the following where in current stages of progress:

a)    Pension Payroll Reconciliation

b)    TPR self-assessment

c)     Statutory Returns: &

d)    Brunel Cost Savings

 

Officers would report to the Committee and the Board on the progress and outcomes of those audits and self-assessments as they arose.

 

Resolved:

 

To note the audit update.

 

Supporting documents: