Under ERISA, a pension sponsor may instruct the auditor to a pension not to perform any auditing procedures with respect to investment information prepared and certified by a bank or similar institution.

FORBES: Pension Red Alert: 70% Of Pensions Are Never Audited

In fact, many cloud providers have strict security policies and procedures, and likely adhere to auditing standards such as SAS-70.

FORBES: Cloud Apps Somewhat More Secure Than On-Premises Apps: Survey