Firms are required to comply with the Code of Audit Practice (COAP), and when issuing a disclaimed audit opinion under the COAP they must have regard to the statutory guidance, which sets out that they should use professional judgement. The firms have performed work to issue a disclaimer opinion in line with the COAP/statutory guidance, […]
For bodies with only VFM arrangements-related fees and the fees for issuing a disclaimer opinion, there will be no separate scale fee charge. For all other fee variations this will depend on the circumstances of each body. Please note that for a disclaimed audit we will assess separately any fees in relation to audit work […]
We review and determine firms’ audit fee proposals in accordance with 17(2) of the Local Audit (Appointing Person) Regulations. Our work includes looking in detail at the fee variations submitted to assess whether we consider them to be appropriate. When making determinations we consider each individual fee variation and compare similar fee variations across all […]
The statement provides a breakdown of the individual fee variation elements we have considered and are minded to approve.