The Chief Internal Auditor introduced the report which summarised the work undertaken by the internal audit service in relation to the Fund. The report complied with the service level agreement between internal audit and the Pension Fund and was based on a risk assessment basis that included consideration of the sensitivity and complexity of all risks identified. Client requests, systems being developed, and the availability of resources were other factors also considered during the year.

The Chief Internal Auditor provided assurance that the Merseyside Pension Fund had maintained a positive position which reflected the work undertaken by officers at the Fund. The Board were informed that the plan would be kept under constant review to ensure any emerging risks were accommodated.

Resolved – that the presentation and report be noted.