FSA Annual Report 2006/07 - Better Regulation Ltd

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Section five – Statement of allocation of costs FSA Annual Report 2006/07 99 Report by independent auditors to the directors of the Financial Services Authority on the statement of allocation of costs We have examined the statement of allocation of costs to regulated fee payers (‘the Statement’) for the year ended 31 March 2007 and the related notes 1 to 3, as prepared by the directors of the company. The Statement has been prepared on the basis set out in note 1. This report is made solely to the directors of the company. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the directors of the company, as a body, for our review, for the statement, or for the opinions we have formed. Respective responsibilities of directors and RSM Robson Rhodes LLP The company’s directors are responsible for the assumptions and basis on which the costs are allocated to fee payers and the preparation of the Statement in accordance with note 1. We have performed certain procedures on the Statement, in accordance with our engagement letter dated 2 December 2005, to verify that the assumptions made by the directors have been applied to the allocated amounts. Basis of opinion The procedures we performed did not constitute a review or an audit of any kind and consisted primarily of verifying whether the figures in the Statement have been compiled from amounts extracted from the company’s accounting records, and in accordance with the basis set out in note 1. The procedures we performed were not designed to and are not likely to reveal fraud and there is no assurance that our procedures will reveal all matters of significance related to the Statement. Opinion In our opinion, the Statement has been compiled from amounts extracted from the accounting records and has been prepared in accordance with the basis set out in note 1. RSM Robson Rhodes LLP Chartered Accountants London 25 May 2007
100 Appendices FSA Annual Report 2006/07 Appendices The following appendices will appear on our website only: www.fsa.gov.uk/Pages/Library/Corporate/Annual/Index.shtml One Two Costs of regulatory authorities in other jurisdictions Accountability The FSA's response to: The Practitioner Panel The Smaller Businesses Practitioner Panel The Consumer Panel Three Complaints against the FSA 2006/07 Four The FSA’s response to the Complaints Commissioner’s Annual Report for 2006/07 Five Enforcement activity 2006/07 Six Seven Performance against 2006/07 Business Plan Milestones Statistics Registered Number 1920623
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FSA Annual Report 2006/07 - Better Regulation Ltd

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