Calculation Audit - or is it?
One of our clients was suffering a number of issues with their in-house pensions administration service. They asked Cosan to audit the calculations to see if there were other issues of which they were not aware. It soon became clear that the amount of manual intervention involved in the administration was such that an audit would not deliver what the Trustees wanted. Cosan therefore arranged a “Stop and Think” meeting after which he agreed to look at the processes and recommend changes that would make the service more robust.
Cosan delivered a report including 20 recommendations for the same price and to the same timescales as originally requested. This allowed the Trustees to commission work to add levels of automation and to change the processes to minimise errors in the future.