Financial Audit and Actuarial Review of GAD and MyCSP for National Audit Office

About

National Audit Office awarded a contract to Grant Thornton UK LLP for central reviews of the Government Actuary's Department (GAD) and MyCSP for 2020-21.

The GAD review involved a financial audit to provide assurance that GAD has the professional skills and expertise to deliver actuarial services for IAS 19 accounting valuations, covering source data, methodology and assumptions, competence and objectivity, and reporting quality.

The MyCSP review involved a high-level assessment of changes to the remuneration disclosures model and actuarial factors used for Civil Service Pension Schemes pension figures, including model changes, inflation uplift factors, sample calculations, documentation, personnel, controls, and updated actuarial factors.

The contract value was £56,758.8.