AAF
We want our clients to have confidence in the service provided to them and their members. Knowing that MNPA has the right control objectives in place and assurance that those control objectives have been achieved is fundamental to having that confidence.
We have therefore adopted the framework provided by the Audit and Assurance Faculty of the Institute of Chartered Accountants of England & Wales “Assurance reports on Internal Controls of service organisations made available to third parties” (AAF 01/06) because we believe it provides evidence of how we are controlling risk in everyday service delivery, especially in light of the publication of the Pensions Act 2004 and the Code of Practice on Internal Controls issued by The Pensions Regulator.
The AAF 01/06 report specifies a series of control objectives that are relevant to a pension administration business and all the internal controls identified as being key to the achievement of each objective must be tested and reported upon, both by MNPA management and by an independent Reporting Accountant.
Our Reporting Accountant provides independent assurance regarding our control framework.
We publish our AAF 01/06 reports annually as part of our
core service and were the first third party administrator to
publish a complete AAF 01/06 Report on Internal Controls.
