Strata Audits

Why should we have an audit done?

A strata audit provides peace of mind and assurance to the owners and managers of the strata corporation on the financial management of the strata corporation. An audit involves testing and reviewing selected transactions of monies received and expended throughout the financial year. At the end of the audit we issue an Audit Report to the strata corporation.  Our Body Corp recommends ASF Audits because they provide a quality service online and an affordable price to our customers. (And we don’t get any incentive fee for recommending them, we just think that they’re good operators.)

How long does an audit take?

Assuming all documentation has been kept in line with Our Body Corp’s guidelines we estimate an audit of the corporation’s financial statements to take no longer than five business days.

How much will an audit cost?

The cost of having a financial statement audit completed through our partner ASF Audits is $10 per strata unit with a base fee of $80. For example a six unit strata would pay $80 and a ten unit strata would pay $100. All amounts are GST inclusive. To book your online audit send an email to strata@asfaudits.com.au

What information do we need to provide for an audit to be done?

In order to complete an effective and efficient audit we will need access to the following documents:

  • Income and Expenditure Statement
  • Balance Sheet
  • Invoices paid throughout the audit year
  • Bank statements throughout the course of the audit year
  • Insurance statement for the property being audited
  • Minutes of all meetings held throughout the audit year
  • Budgets for the audit year.