The FIA has announced that all ten teams competing in Formula 1 complied with the sport's cost cap regulations for the 2022 season.
Last year's cost cap threshold was set at a base of $140 million but included additional expenses.
The FIA says that its financial review accounted for "extensive checks of any non-F1 related activities" which included "multiple visits to team facilities and careful auditing procedures".
No instances of cap violations were discovered, addressing previous concerns that teams were using auxiliary engineering ventures to enhance their Formula 1 projects. This loophole has since been closed.
There have been no reported procedural violations related to either erroneous cost adjustments or improper submission of required documentation.
The teams' clean accounts put to rest rumors lingering in the paddock about several outfits suspected to be in breach of F1's financial regulations, as was the case last year for Red Bull Racing which exceeded its cap by $2.3 million, an overspend that yielded a costly $7 million fine and a 10% reduction of its aerodynamic testing.
Last year, Williams and Aston Martin were fined - $25,000 and $450,000 respectively - for procedural breaches.
"The FIA Cost Cap Administration has issued certificates of compliance to all of the ten Competitors," the FIA stated on Tuesday.
"The review has been an intensive and thorough process, beginning with a detailed analysis of the documentation submitted by the competitors.
"Additionally, there has been an extensive check of any non-F1 activities undertaken by the teams, which comprised multiple on-site visits to team facilities and careful auditing procedures to assess compliance with the Financial Regulations.
"The FIA Cost Cap Administration notes that all Competitors acted at all times in a spirit of good faith and cooperation throughout the process."
Keep up to date with all the F1 news via Facebook and Twitter
Toto Wolff is backing Formula 1's decision to press ahead with its Middle East commitments,…
Veteran F1 journalist Jonathan McEvoy has discovered that a long career covering Formula 1 does…
FIA president Mohammed Ben Sulayem is reportedly seeking to dismantle another longstanding safeguard governing the…
Cadillac F1 CEO Dan Towriss has made clear that Sergio Perez’s value to the American…
Formula 1 world champion Kimi Antonelli received a particularly special welcome home this week, with…
Lando Norris has revealed that Lewis Hamilton’s longevity and continued ability to compete at the…