At Edward & Manning we have extensive experience providing financial statement audits to Condominium Corporations. Our team of audit professionals understand the unique accounting and audit approach required for Condominium audits.

High rise buildings

It wasn’t until the latter half of the 20th century that Condominium Corporations came into existence in Ontario. The responsibilities of the Condo Board under the Condominium Act in the preparation of financial statements is set out in Section 66 and related regulations as follows: “a corporation shall have its financial statements prepared in the manner and in accordance with the accounting principles specified in the Handbook of the Canadian Institute of Chartered Accountants.” The Act requires that an annual financial statement audit is performed for all condominium corporations with more than 25 units.

At Edward & Manning we pride ourselves as not only the auditors for the Condominiums we serve but also as valuable professionals always available to answer questions throughout the year, not only during the year end audit.

As always, included in our audit fee is visit to the Condominium’s Annual General Meeting to present the audited financial statements and answer any questions that the Condominium Board and Members might have.

We would be pleased to hear from you regarding your condominium auditing needs, please call to discuss today.