5 Pitfalls to Avoid When Selecting a Service Auditor

Selecting the right service auditor is a pivotal step for any institution intending to evaluate the effectiveness of their internal controls and ensure compliance with industry standards. However, there are common pitfalls that organisations often come across during this process. In an effort to make an informed decision, it’s important to be aware of these…

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Choosing the Right Service Auditor: A Step-by-Step Guide

Appointing a suitable service auditor is a crucial choice for any business trying to guarantee the reliability and safety of its systems. Whether you’re pursuing a SOC 1, SOC 2, or other audit, a systematic selection process is vital. This blog post provides a brief guide to assist you in making an informed decision. 1.…

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How Much is a Pension Scheme Audit Going to Cost?

pricing

Pension Scheme Audit Prices What is the price of a pension scheme audit? This, of course, is always one of the first questions a pension trustee or pension administrator has when starting the research process for a pension scheme auditor. At Assure UK, we’ve received this question hundreds of times, likely within the first couple…

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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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Stopping Pension Scammers

Scams that target pension scheme members and their retirement benefits are a growing and persistent problem that is intensifying problems faced by members amidst the cost of living crisis in the UK. These scams can leave catastrophic impacts to members and their families at a time where there is enough for them to deal with…

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Training materials are expanding for Professional Trustees

training materials for trustees

Over the coming year we are expecting to see Professional Trustees being required to expand their knowledge and expertise in a range of areas. A key area of focus is environmental, social and governance requirements being in place on Professional Trustees of pension schemes. The Association of Professional Pension Trustees (APPT) have announced plans to…

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A Straightforward Guide to the Single Code of Practice

The single code of practice - an image of a mountain as a metaphor for our simple guide

A Straightforward Guide to the Single Code of Practice The Single Code of Practice was launched in January 2021 by The Pension Regulator and deals with the governance and administration of pension schemes. It has replaced 15 existing codes of practice into one easy to manage code whilst also taking the opportunity to introduce new…

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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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Friction with your Pension Auditor

pension scheme auditing friction image of a tug of war rope

Pension Scheme Auditing: should there be friction with my auditor? The challenge of pension scheme auditing. When a pension scheme brings on an advisor, the general goals of that appointment tie up with the main aims of the scheme: bringing the best value for money for members. When an auditor is brought on to action…

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What Trustees can do to help protect members from pension scams

pension scams

Pension Scams Throughout the COVID-19 pandemic, there has been an ever increasing number of pension scams targeted at members and their pension pots. As furlough begins to end, members may be more inclined to look at ways to cash in their pension early and this is a potential ‘gold mine’ for pension scammers. We have…

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