Pensions Internal Audit

Working on behalf of trustees to help provide assurance over the existence of an effective system of governance the assessment of the adequacy of the design and operating effectiveness of key controls, IA can assist schemes in meeting regulatory requirements, benchmarking to industry practices and identifying efficiency opportunities.

Our IA offering provides a range of services to trustees proportionate to the size, nature, and complexity of their scheme. We have supported a number of schemes with their IA requirements from schemes of significant size requiring full outsource services, and schemes requiring supplemental support to their existing in-house IA function, to smaller schemes which do not have an IA function but require targeted assurance on one or more of its key risks.

How Deloitte can help

Our Pensions Internal Audit team has experience providing assurance to trustees and support to in house IA functions in the following areas:

• Outsource –Engaged as your Third Line of Defence, IA function. We will report directly to your Audit Committee.
• Co-source – aged as an extension of your existing IA function. We operate as a partnership working collaboratively, supporting on audit engagements and functional development activities.
• Internal Audit Subject Matter Expertise (“SME”) – e are engaged to provide one-off or co-source audit engagements on a specialised topic for schemes or to provide SME personnel to work with your in-house function.
• Internal Audit Advisory – Engaged to provide advisory support to IA functions either on a co-source or one-off engagement basis using our Internal Audit 4.0 and Agile Audit methodologies to drive excellence.

Find out more about how IA can assist you in managing your key risks and how our Pensions Internal Audit team can help you.