Fee variation process

Outline of the process as of April 2021 (updated January 2022)


Fee variation submission

PSAA provides standard fee variation forms for the audit firms to complete cyclically. The form is prepopulated with information such as the scale fee, engagement lead, body type. The cells are protected which prevents firms from changing the prepopulated fields. Auditors are required to:

  • state the date the fee variation was agreed with the audited body (or record that it has not been agreed);
  • state the date the fee variation was reported to those charged with governance;
  • confirm whether this fee variation proposal includes recurring additional work;
  • provide narrative/documents to support and explain the fee variation proposal, including why the work was needed and what work was undertaken;
  • enter the number of hours that the additional work has taken to complete. This is split across the different staff levels that have been used in line with the rate card – Partner, Senior Manager, Senior Auditor and other staff;

Firms submit fee variation forms to PSAA using secure transfer facilities.

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