TO AUDIT OR NOT TO AUDIT, A DISCUSSION ON SECTIONAL TITLE LEGISLATION

Clint and his team have been actively engaged in discussions surrounding the challenges facing sectional title schemes, particularly regarding the escalating costs and availability of auditors. This article delves into the current requirements for mandatory audits of bodies corporate, examining the disproportionate impact on smaller schemes. Drawing on their experience and insights, Clint and his team explore viable alternatives such as accounting officer reports and independent reviews, advocating for a more flexible and practical approach. We believe that timely and relevant financial information is paramount for owners, and this article highlights the need to balance cost-effectiveness with transparency and good governance within community schemes. Join us as we explore potential solutions and discuss how to best ensure the financial health of your sectional title.