Body Corporate and Community Management (Small Schemes Module) Regulation 2020
sec.95Audit [ SM, s 176 ]
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sec.95 Audit [ SM, s 176 ]
The body corporate may decide to have its statement of accounts for a financial year audited by an auditor. The following persons can not be appointed to audit the accounting records or the statement of accounts of the body corporate— a member of the committee; a body corporate manager; an associate of a member of the committee or a body corporate manager. On finishing an audit of the body corporate’s statement of accounts for a financial year, the auditor must give a certificate— stating whether the statement of accounts gives a true and fair view of the body corporate’s financial affairs; and if the statement of accounts does not give a true and fair view of the body corporate’s financial affairs—identifying the deficiencies in the statement. A copy of the auditor’s certificate must accompany the notice of the next annual general meeting held after the certificate is given. (sec.95-ssec.1) The body corporate may decide to have its statement of accounts for a financial year audited by an auditor. (sec.95-ssec.2) The following persons can not be appointed to audit the accounting records or the statement of accounts of the body corporate— a member of the committee; a body corporate manager; an associate of a member of the committee or a body corporate manager. (sec.95-ssec.3) On finishing an audit of the body corporate’s statement of accounts for a financial year, the auditor must give a certificate— stating whether the statement of accounts gives a true and fair view of the body corporate’s financial affairs; and if the statement of accounts does not give a true and fair view of the body corporate’s financial affairs—identifying the deficiencies in the statement. (sec.95-ssec.4) A copy of the auditor’s certificate must accompany the notice of the next annual general meeting held after the certificate is given.
- (a) a member of the committee;
- (b) a body corporate manager;
- (c) an associate of a member of the committee or a body corporate manager.
- (a) stating whether the statement of accounts gives a true and fair view of the body corporate’s financial affairs; and
- (b) if the statement of accounts does not give a true and fair view of the body corporate’s financial affairs—identifying the deficiencies in the statement.