Hiring an auditor

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  • 07/01/2020 at 11:44 pm #47550 Reply | Quote
    JH16
    Flatchatter

      Happy New Year Jimmy and other Flat Chat experts.

      The current strata committee (SC) members, including me, are serving for the first time. Our building is in Sydney. At our AGM the owners corporation (OC) voted to engage auditors. All we can find on the subject of auditing is Section 95 of SSMA 2016 which merely says that audits must be done in accordance with Australian Auditing Standards. The SSMR 2016 is silent on the matter.

      Does the SC choose the auditor and sign the contract of  engagement without further ado or must we obtain quotes for presentation at an EGM for the OC to vote on?

      We presume that the auditor will submit the contract of engagement.

      What is the approximate cost of an audit? Is there a scale of fees prescribed that all auditors must adhere to?

       

       

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    Reply To: Reply #47587 in Hiring an auditor
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

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