New South Wales Consolidated Acts
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STRATA SCHEMES MANAGEMENT ACT 2015 - SECT 95
Auditing of accounts and financial statements
(1) The owners corporation for a large strata scheme, or a strata scheme for
which the annual budget exceeds $250,000 (or another amount prescribed for the
purposes of this section by the regulations), must ensure that the accounts
and financial statements of the owners corporation are audited before
presentation to the annual general meeting.
(2) The owners corporation for
any other strata scheme may determine that the accounts and
financial statements of the owners corporation are to be audited.
(3) An
audit of the accounts and financial statements of an owners corporation under
this section must be carried out in accordance with the Australian Auditing
Standards.
(4) The regulations may specify the manner in which the annual
budget of a strata scheme is to be determined for the purposes of this
section.
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