Pensions scheme assurance services
In these challenging times trustees need assurance that their annual audit is undertaken expertly and cost-effectively. The BDO pensions assurance team provides a professional and robust audit service and their advice is a valuable support to trustees in this increasingly regulated field.
What are the benefits of BDO?
1. A dedicated team. BDO's pensions assurance team operates nationally. This is a team of dedicated professionals who have chosen to specialize in this area and who are supported by staff from our wider accounts and audit service.
2. 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.
3. 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.
4. 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.
Specialist advice and support
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:
- Risk management
- Covenant review and assessment
- Trustee governance
- Investment advice
- Tax compliance and advice