A representative of Grant Thornton presented the report which highlighted the key findings and other matters arising from Grant Thornton’s external audit of the financial statements of Merseyside Pension Fund for the year ended 31 March 2024. Subject to the satisfactory completion of the outstanding audit work, Grant Thornton’s anticipated audit opinion would be unqualified.

Members discussed the impact of impact of increased costs of audit fees and the work being undertaken to review segregation of duties conflict with the Oracle Fusion Management system.

Members also placed on record Committee’s thanks to the team involved in the successful implementation of the Oracle Fusion IT system.

Resolved – That the Audit Findings Report for Merseyside Pension Fund be noted.