We are pleased to announce that we have achieved a further renewal of our Assurance Report in respect of our internal controls for our pension administration services and related Information Technology controls for the year ended 31 January 2017.
The independent audits are undertaken annually by Assure UK in accordance with the framework set out in the “Technical Release AAF 01/06 on assurance reports on the internal controls of service organisations made available to third parties by the Institute of Chartered Accountants in England and Wales (ICAEW)” or AAF 01/06 for short.
The production of such a report is designed to enable our clients, clients’ scheme auditors and prospective clients to understand the care taken and the continuing investment that we make to deliver an excellent service. It describes the key controls procedures we have put in place to meet industry requirements and follow best practice. It also allows pension scheme trustees to fulfil their regulatory obligation to establish and review the internal controls relating to the administration of their pension arrangement.
We are proud to confirm that there were no exceptions found during this year’s audit. Our auditor has confirmed that we are the first pensions consultancy firm to have achieved a perfect score in the 10 years that they have undertaken such audits.
In addition to the AAF 01/06 accreditation above, we are also pleased to confirm that we hold two other distinguished awards which are independent proof of our commitment to service and procedures.
The first is our ISO 9001:2015 certification for our pension administration, reporting and accounting and banking services. This was initially awarded to us in 2012 by SOCOTEC Certification International following their independent audit of our quality management systems and is subject to annual audits to ensure compliance.
Secondly, we obtained ISO 27001:2013 accreditation in February 2017 as an independent assessment of the systems and processes that we have in place to assess and prevent information security risks – this is particularly vital with the work that Quantum undertakes for its clients.
ISO 27001 continues to be the most robust, recognised and accepted Information Security Standard worldwide. The accreditation validates our ability to keep confidential information secure, exchange information securely and manage and minimise risk exposure and demonstrates that we meet international standards of information security best-practice.
Quality Assurance Scheme
Finally we are delighted to announce that we were one of the first Firms to achieve the Quality Assurance Scheme (QAS) accreditation awarded by the Institute and Faculty of Actuaries.
We were assessed by an independent team and awarded the prestigious accreditation on 12 April 2016. The assessment focussed heavily on our values, our policies and procedures, the training and development of actuaries and actuarial students and our relationship with clients.
This a voluntary accreditation and by obtaining this quality mark we can confirm our commitment and dedication to producing high quality actuarial work. The quality is embedded within our culture and we are very proud of our achievement.