Case Study: University of Oxford achieves FRS 102 compliance and £55,000 audit fee avoidance with FinQuery LeaseQuery

University of Oxford slashes £55,000 in audit fees with FinQuery

The University of Oxford faced the challenge of transitioning approximately 50 leases to comply with FRS 102 lease accounting regulations. Using error-prone spreadsheets had already resulted in an additional £55,000 in audit fees for a single lease, highlighting the risks and hidden costs of their manual process. To achieve robust controls and ensure compliance ahead of the 2026 deadline, they turned to FinQuery and its LeaseQuery software.

By implementing FinQuery, the university centralized its lease data with strong internal controls and AI-powered data extraction. The solution provided clear audit trails and direct read-only access for auditors. This resulted in immediate cost avoidance, saving £55,000 in the first external audit, while also delivering significant time savings, more accurate forecasting, and confidence in their compliance posture.

University of Oxford