PASA releases Data Accuracy Guidance


PASA releases Data Accuracy Guidance

PASA today published Guidance on data presence versus accuracy.  The Guidance explores what accurate data is, what trustees should do to improve their data accuracy and suggests steps they should take to ensure data accuracy is maintained.

Kim Gubler, PASA Chair, commented: “The call for data auditing is not new, and this latest Guidance builds on a suite of content focused on improving and maintaining scheme data. Advances have been made in improving data scores and we now need to push forward to ensure data is not just present, but accurate. As noted by TPR’s Chief Executive, Trustees have explicit obligations to ensure the accuracy of scheme records. GDPR also requires all reasonable steps should be taken to ensure personal data is accurate. The time to act is now.”

Kristy Cotton, Chair of the PASA Data Working Group, added: “Trustees should recognise data quality management is an ongoing process. Data needs to be consistently monitored throughout the life of the scheme and controls reviewed to ensure they remain adequate to prevent future data degradation. Accurate data can be achieved by audit, remediation, root cause analysis and strengthening system controls. Trustees should also maintain data improvement and management plans to ensure continuous improvement. Poor quality data can lead to poor decision making.”

The new PASA Guidance ‘Data Presence v Accuracy’, can be found here.