Final account procedures, 1st edition

This document was reissued in October 2024 as practice. It had previously been published in December 2015 as a guidance note. The regulatory requirements remain the same and no material changes have been made to the document. For more information on the document category changes, see Upholding professional standards.

This practice information summarises what a final account is and how they are used to establish a final adjustment to the contract price.

The practical issues of how to prepare a final account in accordance with the contract and the process of cooperation between the parties and negotiation is also discussed.

Included in this document:

• contractual definitions of final account
• preparing for final account
• agreeing the final account and
• an example statement of final account.