Safeguarding Sensitive Data: The Significance of ISO 27001 for Pension Audit Companies

In today’s digital age, data breaches and cyber threats are lurking around every corner, posing a threat to businesses across all industries. For pension audit companies who are entrusted with sensitive financial information, ensuring data is safe is a top priority. This is where ISO 27001, the international standard for information security management, plays a…

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How do you know which Auditor is best for your pension scheme?

audit quality

Audit standards in the UK have come into question over the last few years with different high profile scandals appearing more frequently in the news and audit firms receiving significant fines. The Financial Reporting Council (FRC) is intended to measure and compare the ability of audit firms to accurately audit the financial statements through Audit…

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What is Open Banking and how can it help the world of audit?

open banking

In 2021 open banking hit a UK high of 4.5 million users with 3.9 million of those being consumers and 600,000 small businesses, however despite the strong growth of open banking within the UK, many people still have never heard of the term. Open banking gives individuals and companies the ability to share current account…

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Savers warned over pension transfer risks

pension transfer risk

The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have produced a factsheet for savers who have a defined benefit (DB) pension. The plain English factsheet, published today (Friday 5 June): tells savers they do not need to rush a decision about their pension and should get advice first reminds DB pension holders that…

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Pensions SORP ED out for comment as FRS 102 deadline approaches

Issued by the Pension Research Accountants Group (PRAG), the ED of the Statement of Recommended Practice Financial Reports of Pension Schemes (SORP) has been significantly updated to reflect changes in accounting standards, regulations and the pension industry since the previous SORP on pension scheme financial reporting in 2007. The main changes proposed in the ED…

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