In these challenging times trustees need assurance that their annual audit is undertaken expertly and cost-effectively. The BDO pensions assurance team provide a professional and robust audit service and their advice is a valuable support to trustees in this increasingly regulated field.
We provide pensions audit and advice to all types of occupational pension schemes, with individual scheme investments of up to £500 million and scheme memberships ranging from 1 to 10,000. We audit some 200 pension schemes, including DB, DC, hybrid and multi-employer.
1. A dedicated team
BDO’s pensions assurance team operates nationally and is lead from our Gatwick office. This is a team of dedicated professionals who have chosen to specialise in this area and who are supported by staff from our wider accounts and audit service.
2. An approach tailored to your needs
Our clients tell us that they appreciate the individual service we deliver. Our director-led approach, backed up by committed pension accounts professionals, means that we are able to meet tight deadlines and resolve problems early, through using our direct experience and knowledge of the issues you face.
3. Planning and communication
We engage with the Trustees and their advisers at an early stage every year to agree the audit plan and timetable and to ensure that their concerns are understood and are appropriately covered in the scoping of our audit work. We have the flexibility to adapt our audit procedures to address specific concerns without impacting on the efficiency of the audit and consequently without additional cost.
4. Value added management reporting
Our approach to communication also leads to a more focused report to the Trustees. Our report will not only cover specific matters but will also provide a commentary on the financial information to aid the Trustees in understanding their relevance and significance.
5. Fee transparency
We do not rely on selling additional services to clients; our economic model requires each of our services to stand alone. Our approach to fees is that of “no surprises”. We agree a fee in advance every year and no additional fees arise unless we have agreed with you that there has been a change in scope. We want you to feel comfortable that you can contact us at any point without feeling that “the clock is ticking”. In this way there is always clarity and choice for you.
Our pension audit team works closely with other disciplines across the business to provide Trustees with specific advice covering all aspects of pensions operation, including: