Condominiums continue to comprise a significant portion of property ownership in Canada. Condominiums can be residential or commercial and can either use the services of a property manager or be self-managed. Regardless of the nature of the property and how it is managed, the condominium must appoint an auditor and have its annual financial statements audited. These rules allow for the provision of accurate and reliable information to the Board, the owners and the property managers.
The condominium corporation must also have an Annual General Meeting. This provides the necessary platform for the unit owners to have access to the annual financial statements, the report of the auditors and to have direct access to the auditors who provided the opinion. We have been providing external audit and reporting services to condominium corporations for over 20 years. We work with both property managers and the Board to develop timelines for the planning and conduct of the audits to ensure the information is provided in a timely fashion. We also attend the Annual General Meetings.
In addition to the external audits, we also provide taxation services to the corporations. Depending on the nature of the corporation, such services include HST and corporate tax work.
Please contact one of the firm’s professionals below to discuss how we may be of service to your corporation: