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Hi all, I’m an owner in a scheme of less the 30 units in NSW
At last AGM 2018 when Appointment of Auditor was discussed and resolved, the Secretary/ Treasurer nominated himself to perform the Audit. He had done so the previous 2 years for free!!. At the time I pointed out that this could be a conflict of interest as it is my understanding that a Treasurer cannot audit their own records. But the Treasurer claimed it would be expensive and so convinced everyone to appoint him as Auditor again. So it was resolved that he Audit the accounts.
As there had been cash out of pocket expenses paid to himself without receipts the previous year I didn’t think this was wise. There was a resolution passed under financial matters that was resolved that cash payments- no payments made without receipt or invoices
The Financial records just released again pre AGM 2019 document again that out of pocked cash payment to himself had occurred again despite a resolution prohibiting it. But to add insult , the Treasurer charged the OC $1000 for Auditing and this was not approved at a committee meeting . It came as a shock to committee members who didn’t see any invoice. On investigation it was not a formal invoice, just a quick email to strata manager from Treasurer. Also there is no structure to report. Its is a brief half page and it just refers to what a great job he does as Treasurer ?
Thus it appears that the Treasurer is perhaps not qualified to perform an Audit ?
Thus my questions 1) What are the standards of auditing of Strata Records ?
2) What are the qualifications required to be an Auditor and to charge for this.
3) Is it against the law or any act to claim to be an Auditor if you are not qualified to do so ? can you report it ?
Thanks
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