Condo building highlighting condominium audit deficiencies

Common condominium financial statement deficiencies—and how to avoid them

It goes without saying that condominium corporations have significant and complex financial reporting responsibilities—many of which are overseen by volunteer boards of directors staffed by unit owners who may or may not have accounting or financial management expertise. Because condominium corporations are required under the Condominium Act, 1998 (the Act) to publish financial statements each …

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