The proximity of the backstop dates for the up to 2022/23 and 2023/24 audits meant that we received fee variation proposals for over 700 audits in a short period. We are still working to process all fee variations and we are doing all we can to ensure we do so thoroughly, effectively and efficiently.
The firms submit fee variation proposals when they are ready to do so. We are therefore dependant on them providing these proposals, and appropriate supporting information, to allow us to complete our work.
We may therefore issue fee variation statements out of audit year sequence, for example we may be able to complete a particular audit year but are still working on an earlier year. We issue a statement as soon as we have completed our work, to provide bodies and firms with the final fee position as quickly as possible.