Work on VFM arrangements comprises two elements:
- the core work to consider the arrangements in place included in the scale fee. The auditor needed to do this to be able to come to the binary conclusion that was in place up to 2019/20; and
- the additional work required to produce the commentary, which is a Code of Audit Practice requirement from 2020/21 and is included in the scale fee from 2023/24.
The VFM arrangements commentary fee variation in the statement may be higher than determined for other audit years because it includes the scale fee element for core VFM work.
For bodies where the auditor has only completed the VFM arrangements work and the work to issue a disclaimer opinion, there is no separate scale fee charge.