- We perform full scope statutory audits as required by the Pension Funds Act
- We perform Agreed Upon Procedures as required in terms of Section 15 of the Pension Funds Act
- Our audits of Schedule IB Assets of the fund held in compliance with Regulation 28
- We perform prescribed procedures required by the Reserve Bank
And importantly, we have gained extensive expertise and experience in various types of funds. These include: Pension Funds, Provident Funds, Umbrella Funds, Preservation Funds, Unclaimed benefit funds Beneficiary Funds (Defined Contribution, Defined Benefit as well as Hybrid Funds)
Throughout our work, we spend a great deal of our time during the audit reviewing the background, activities, objectives and administration of the scheme, including:
- Governing documents and actuarial reports;
- Contribution schedules
- Scheme membership numbers and allocation into active, deferred and pensioners
- Trustee meeting Minutes
- Accounting systems, books and records and the adequacy of controls over key risks
- Investment reconciliations and custodian arrangements
- The valuation of investments and transaction movements
- Peripheral factors that could be of material significance
- The pensioner payroll and a review of a sample of member files
- Benefit calculations, authorisation procedures and bulk transfer agreements
