Donna Smith, Head of Finance and Risk, introduced a report that provided Board Members with a copy of the report taken to Pension Committee 22 June 2021 in relation to Grant Thornton’s audit of the Fund’s Statement of Accounts for 2020/21. The completed questionnaire was attached as an appendix to the report.

Grant Thornton, as part of their audit of the Fund’s Statement of Accounts for 2020/21 had asked management to respond to a series of questions.

Fund officers had completed the questionnaire prepared by Grant Thornton and presented it to Members, to support members responsibilities in relation to the financial reporting process.  This would inform the auditors risk assessment, where the auditor was required to make inquiries of Pensions Committee under auditing standards.

The questionnaire provided members with an understanding of management processes and the Fund’s oversight of the following areas:

•  General Enquiries of Management

•  Fraud

•  Laws and Regulations

•  Related Parties

•  Accounting Estimates

Resolved - That the management responses to questions posed by the Fund’s external auditors Grant Thornton, having been considered by the Local Pensions Board, be noted.