Pensions group publishes 'risk' audit

The FRAG 21 report is based on a framework set by the ICAEW and describes the control environment and control objectives at Capita Hartshead, and looks at pension fund accounting and IT operational areas.

In addition, the audit contains a seperate report by PricewaterhouseCoopers which includes interviews with Capita Hartshead's senior managers as well as 'rigorous testing of specific control procedures'.

Mike Addenbrooke, managing director of Capita Hartshead based in Sheffield, said the report would allows clients and their auditors to understand the way in which the company conducts is business and how it control risks.

'Risk management and accountability have a higher profile in the boardroom than ever before, and we are responding to that,' he added.