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Codes of practice
Code of practice 09
Internal controls
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What are internal controls and why have them?
- Internal controls are:
- arrangements and procedures to be followed in the administration and management of the scheme;
- systems and arrangements for monitoring that administration and management, and
- arrangements and procedures to be followed for the safe custody and security of the assets of the scheme.
- The implementation and application of internal controls will therefore help trustees monitor the management and administration of their schemes. Internal controls will also improve the safe custody of assets and help protect the scheme from adverse risks which could be detrimental to the scheme had those risks not been mitigated.
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| Related documents |
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| Code of practice 09: Internal controls (PDF) |
| Related pages |
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| Supporting guidance to be read in conjunction with the code: Internal controls guidance |