Issue - meetings

Review of Internal Controls at Investment Managers

Meeting: 12/10/2022 - Pension Fund Committee (Item 10)

10 Review of Investment Managers' Internal Controls pdf icon PDF 123 KB

Report of the Director of Finance

Additional documents:


The Committee received a report of the Director of Finance and Assurance which summarised the contents of the latest internal controls reports for the Fund’s investment managers.  It was noted that the reports had been reviewed and showed that controls were operating effectively and, where exceptions had been identified, that there had been a satisfactory management response.


An officer introduced the report, advising that the Council audit required evidence that the review had taken place.  The reports and management responses indicated that each of the fund managers demonstrated appropriate levels of control and very few exceptions had been highlighted.


In response to a suggestion by an Independent Adviser it was agreed that, as there were new Members on the Committee, information on the risk register be provided at the next meeting.


RESOLVED:  That the report be noted.