P1racenews AI automatic summary:
All 10 teams submitted their accounts for the FIA to inspect for the 2023 season.
The FIA announced that all 10 Formula 1 teams were within cost cap limits for the 2023 accounting period, but Alpine and Honda breached procedural power unit regulations. Under the new financial regulations, teams must submit their accounts for inspection to ensure compliance with spending limits. The basic spending limit for the 2023 season was $135 million, adjusted to $138.6 million due to additional races. This marks the second consecutive year of all teams meeting requirements and staying within spending limits. Alpine and Honda, though not exceeding limits, were found to have procedural breaches and are cooperating with the governing body to resolve the matter through Accepted Breach Agreements.
