Additional information
Statement of responsibilities
The statement of responsibilities of auditors and audited bodies sets out the expectations on which scale fees are based. The statement effectively represents the terms of engagement between appointed auditors and opted-in bodies and summarises their respective responsibilities.
Scale fees are based on the expectation that opted-in bodies can provide the auditor with complete and materially accurate financial statements and supporting working papers within agreed timeframes. Local fee variations may be needed where a body is unable to fulfil these requirements.
The statement of responsibilities also applies to auditors. Additional audit costs that arise due to auditors not meeting expectations in relation to their responsibilities are ineligible for a fee variation.
Value added tax
Individual audit fees under the 2024/25 fee scale do not include value added tax (VAT), which will be charged at the prevailing rate, currently 20%, on all work done.