| Link(s): | Annual reports and accounts (financial-ombudsman.org.uk https://www.financial-ombudsman.org.uk/who-we-are/governance-funding/annual-reports-accounts |
Context
FOS has published its Annual Report and Accounts for 2022/23, setting out how it has progressed against its strategic aims and objectives, and providing information about its financial performance – including its audited accounts.
Key points to note and next actions
- In relation to complaints, FOS received 165,149 complaints, resolved 209,471, made 29,854 ‘final decisions’ and upheld 35% of complaints referred to it.
- FOS operating income was £246.3m, against an operating expenditure of £230.8m.
- The number of open cases older than 18 months was down from 26,444 at the start of the year to 7,472 at the end of the year.
- The median ‘waiting time’ was down from 6.4 months in 2021/22 to 4.8 months in 2022/23.