What is the AAR?

There are two parts to the new Annual Accountants’ Report. Part 1 pulls together the information reported on periodically throughout the licence period by the ATOL holder on passenger numbers and licensable revenue. The ATOL Reporting Accountant will continue to be required to report on this.

Most ATOL holders will also be required to input financial data relating to financial performance and position from their Financial Statements in Part 2 of the Annual Accountants’ Report.  The ATOL Reporting Accountant will be required to provide a factual findings report on the extraction of information from the Financial Statements, including confirmations by the ATOL holder.

The ATOL holder will also be required to provide a turnover reconciliation and information about its revenue recognition policy and deferred income in the Annual Accountants’ Report. The ATOL Reporting Accountant is not required to report on this.