Small to medium sized businesses, and not-for-profit organizations, may recognize a need for an audit or review engagement to either obtain an operating loan, qualify for bonding, report to shareholders or report to other regulatory bodies. Whatever the requirement, we have the experience and knowledge to help meet these needs. All engagements are directly undertaken by a member of our firm that has qualified as a Chartered Professional Accountant.

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For Condominium Corporations, an annual audit is required by the Condominium Act of Ontario. Our firm specializes in condominium audits and has been doing so for over 30 years. We are a member of The Canadian Condominium Institute, Toronto and Area Chapter, which allows us to stay current with changes in the industry and with the Condominium Act of Ontario.

 

The services we provide include the following:

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• Turnover audits for newly registered condominium corporations; 

• Fiscal year-end audits of the financial statements prepared by the property management company;

• Review of the annual budget for the current and subsequent year;

• Review of the banking procedures and banking documentation;

• Review of all Board of Director meetings for the fiscal year in question and up to the date of the annual audit;

• Preparation of financial statements for the fiscal year in question, together with our Independent Auditor’s Report thereon;

• Preparation of the annual T2 corporate income tax return;

• Preparation of the annual T1044 corporate Non-Profit Organization Information Return;

• Attendance at the annual general meeting;

• Review of other matters that may arise during the course of the year.