Pension Scheme Audit

Trustees must obtain audited accounts, and an auditor's statement about contributions, within seven months of the scheme year end. We build the timetable backwards from that deadline, coordinate directly with your administrators, actuaries and investment managers, and keep trustee time focused on decisions rather than document-chasing.

Understanding Pension Scheme Audit Requirements

Under the Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) Regulations 1996, trustees of most occupational schemes must obtain audited accounts and an auditor's statement about contributions not more than seven months after the end of each scheme year. Exemptions exist — including ear-marked schemes (where all benefits are secured by insurance policies allocated to individual members) and schemes with fewer than two members — and the wider framework sits under the Pensions Acts 1995 and 2004 with oversight by The Pensions Regulator. We confirm what applies to your scheme before any work begins.

The Auditor's Statement About Contributions

Alongside the accounts opinion, the scheme auditor reports on whether contributions have been paid in accordance with the schedule of contributions (DB) or payment schedule (DC). Late or misapplied contributions are among the most common findings — and can be reportable to The Pensions Regulator — so we test contribution timeliness thoroughly and help trustees address employer payment issues early rather than in the audit's final week.

Our Pension Scheme Audit Services

Statutory scheme audits under the 1996 Regulations, with financial statements prepared in line with FRS 102 and the Pensions SORP; defined benefit scheme audits, coordinating with actuarial valuations and funding reporting; defined contribution scheme audits, verifying member records, unit reconciliations and contribution allocation; hybrid scheme audits; and support with the annual report content trustees must publish — including the implementation statement and, for relevant DC schemes, the chair's statement.

Key Areas of Audit Focus

Contributions received and receivable, tested against schedules; benefits paid, transfers and member movements; investment valuations — including pooled funds, and hard-to-value assets where present — verified against custodian and manager confirmations; annuity policies and insured benefits; scheme administration controls, typically at third-party administrators; and related regulatory reporting. Where schemes hold complex or illiquid investments we bring genuine financial instruments audit experience rather than outsourcing scepticism to the fund manager's factsheet.

Why Choose Acumon for Pension Scheme Audits

ICAEW-registered with the regulatory standing scheme audits demand; a trustee-focused approach that understands fiduciary duties and governance; direct coordination with administrators, actuaries and investment managers so trustees are not the postbox; a streamlined, portal-based process; and clear reports with practical recommendations. Fixed fees, agreed timetable, no surprises at sign-off.

What You Get With Acumon

• Defined benefit, defined contribution and hybrid scheme audits
• Audited accounts delivered within the statutory 7-month deadline
• Auditor's statement about contributions, with early warning of payment issues
• Investment valuations verified against custodian and manager confirmations
• FRS 102 and Pensions SORP financial statements support
• Direct liaison with administrators, actuaries and investment managers
• Trustee-ready reporting with practical recommendations

Why Acumon for Pension Scheme Audit?

• ICAEW-registered audit firm with FRC authorisation
• Complex financial instruments audit experience for scheme investments
• Portal-based process with direct administrator, actuary and manager liaison
• 90+ UK-based staff with high availability for statutory deadlines

Get a Fixed-Fee Quote

Tell us what you need and we'll come back within one business day with a clear scope and a fixed price — no hourly-rate surprises. Call 020 8567 3451 or use the form and we'll be in touch.