Queensland Consolidated Regulations

BODY CORPORATE AND COMMUNITY MANAGEMENT (SMALL SCHEMES MODULE) REGULATION 2020 - REG 95

95 Audit [SM, s 176]

(1) The body corporate may decide to have its statement of accounts for a financial year audited by an auditor.

(2) The following persons can not be appointed to audit the accounting records or the statement of accounts of the body corporate—

(a) a member of the committee;

(b) a body corporate manager;

(c) an associate of a member of the committee or a body corporate manager.

(3) On finishing an audit of the body corporate’s statement of accounts for a financial year, the auditor must give a certificate—

(a) stating whether the statement of accounts gives a true and fair view of the body corporate’s financial affairs; and

(b) if the statement of accounts does not give a true and fair view of the body corporate’s financial affairs—identifying the deficiencies in the statement.

(4) A copy of the auditor’s certificate must accompany the notice of the next annual general meeting held after the certificate is given.