Pension Audits - How we work
Pension Audits - How we work
Tiffin Green appreciate that in these challenging times, with escalating costs, obtaining a thorough and value for money Pension Audit is a prime consideration for trustees and sponsoring employers.
Additionally, we know that Pension Trustee's need reliable support and advice to help perform their duties effectively and meet current regulatory requirements - this is where we can help.
Tiffin Green's experienced Pension Audit Team deliver a personalised, high quality audit service to clients in Essex, London and throughout the UK.
Pension Audit Team - working with the Trustees
Tiffin Green, as accountants and business advisors, take pension schemes very seriously and has built a portfolio of pension audits by working closely with pension scheme administrators and trustees.
This approach provides a quicker more focused audit, with tangible benefits all round. Trustees and Administrators can both appreciate the advantages of dealing with a professional who not only understands pension audits but also has a broad understanding of commercial life.
At the outset an Audit Manager is designated to each client to efficiently project manage the work; ensuring deadlines are met and expectations are realised. This Manager also provides a contact point and continuity for the client.
Lisa Horsfall, our Head of Pension Audits, maintains a database of client schemes and ensures that all information required for the pension audit is requested from third parties at the time of the year-end.
A personal contact within the investment house is also established for each scheme so that all information can be chased up and obtained before any audit assignment commences.
The Audit Process
The audit process starts long before the audit fieldwork commences with a reveiw of the schemes procedures. A face to face meeting or telephone conference will be arranged with a trustee and other relevant individuals to discuss any developments within the scheme.
During the process we will outline and discuss the audit timetable and note any key deadlines that the client may have.
Our typical timetable identifies three key stages, which are underpinned by our timely commitment to the trustees:
| 1 | Carry out Audit | by specified date |
|---|---|---|
| 2 | Copy of draft accounts together with any final queries to be cleared | within 2 weeks of audit |
| 3 | Accounts finalised for the trustees to sign off | within 6 weeks of stage 2 completion |
This audit process allows the accounts to be signed off well within the 7-month deadline period.
Pension Audit Testimonials
"We know we can rely on Tiffin Green to deliver a smooth and efficient service; they get on with the job quickly and accurately with the minimum of disruption. We have worked with them for some time and have built a good dependable relationship."
Director, Thermit Welding and Pension Scheme Trustee
"Whilst the Christopherson Pension Scheme of Cox Services Ltd has only used the services of Tiffin Green for a few years we have already built a strong relationship.
Unlike audits conducted by larger companies we have been able to keep the same contacts enabling the audits to be carried out efficiently and on time. This has meant that any queries have been resolved quickly.
There is a genuine desire to provide a first class service and we only wished we had appointed Tiffin Green earlier."
Chairman of Christopherson Pension Scheme
"Johnson Controls Automotive (UK) Ltd is delighted with the audit service Tiffin Green provides to the company's pension schemes."
Company Secretary, Johnson Controls Automotive (UK) Limited
Should you wish to seek reference we shall be happy to arrange for you to speak with some clients.
Please Contact Us with your pension audit requirements