Regulations > Schedules > Schedule O : Report of the Auditor

SCHEDULE O

REPORT OF THE AUDITOR ............................................. (THE ADMINISTRATOR) TO THE

REGISTRAR OF PENSION FUNDS IN COMPLIANCE WITH REGULATION 32(2)(b) OF THE

REGULATIONS MADE IN TERMS OF THE PENSION FUNDS ACT, 1956

1.	In compliance with regulation 32(2)(b) we have performed certain procedures described below on the system of internal control and records of the administrator as at .........................................

Compliance with the regulations and the maintenance and development of a system of internal control are the responsibilities of the management of the administrator. Our responsibility is to report on the results of the procedures which we have performed. The procedures were carried out solely to comply with the requirements of Regulation 32(2)(b) and this report should be used by you for that purpose only.

3.	We have adopted such procedures and conducted such inquiries in relation to the books of account and records of the administrator as we considered necessary in the circumstances. This enables us to certify that—

3.1	the bookkeeping, computer and control systems are adequate for the size and complexity of the business it is conducting / *proposes to conduct;

3.2	adequate measures are in operation to ensure the continued safety of documents of title relating to assets held in safe custody;

3.3	the administrator has taken out an Employer's Fidelity Guarantee Policy, No. ..................................... with .......................................................and that such policy has been renewed for a period of ......... months ending on the .........day of ......... 19 ....., and

3.4

the administrator has taken out a Professional Indemnity Insurance Policy, No ......................................... with ........................................ and that such policy has been renewed for a period of .................... months ending on the .....................day of .....................1 9 ......

4.	The following exceptions to paragraph 3 have been brought to the attention of the administrator's management and have/*have not subsequently been corrected:

……………………………………………………...................................................................................

Auditor (CA) SA:

Address:

Date:

* Delete if not applicable.

[Schedule O inserted by regulation 5 of Notice No. R. 1838 of 1995]

Pension Funds Act, 1956 (Act No 24 of 1956)

Regulations

Schedules

Schedule O : Report of the Auditor