Audit-Readiness Check
A quick self-check so the annual audit starts smoothly instead of with a document hunt.
What this is
Most condo corporations have their financial statements audited each year, and the difference between a fast, low-stress audit and a drawn-out one usually comes down to how ready the records are on day one. Auditors ask for the same core items every time: bank statements, reserve records, contracts, minutes, and the trail behind major transactions. This self-check helps a newer manager confirm those are in order before the auditor asks.
Run through it a few weeks ahead and you turn the audit into a review rather than a treasure hunt. It also doubles as a gentle year-round hygiene check on your record-keeping, which pays off well beyond audit season.
What's inside
- A pre-audit document inventory grouped by category
- Reconciliation prompts for operating and reserve accounts
- A check on supporting paperwork for large or unusual transactions
- Timing guidance so requests reach the auditor without a last-minute rush
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