Strata Audits

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Specialists in strata audits

Integrity is everything when managing owners’ money. Regular strata audits are one way to ensure accuracy, compliance and transparency. We’re skilled at organising independent examinations of strata scheme financial records and practices to check everything is above board.

Aspects of a strata audit

Verification of Strata Financial Records
We’ll ensure your records accurately reflect the income, expenses and financial position of your strata scheme. We’ll also check all financial transactions are properly recorded and reconciled with bank statements and other documentation.

Strata Compliance
We’ll confirm your strata scheme complies with the relevant legislation in your state or territory including any laws specific to strata management. We can also ensure financial management practices align with your strata scheme’s bylaws and rules.

Assessment of Internal Strata Controls
We’ll evaluate the effectiveness of your strata scheme’s current internal controls to help prevent fraud, errors and mismanagement. We’ll also identify any weaknesses or risks your strata scheme’s financial management processes and recommend improvements if required.

Strata Reporting
We’ll provide a formal report from the auditor detailing your audit findings including any discrepancies, issues or recommendations for improvement.

Strata Recommendations
We’ll offer recommendations for improving your strata scheme’s financial practices, internal controls and compliance. We can also provide advice on best practice financial management for your scheme.

When is a strata audit required?

Strata audit requirements depend on the legislation in your state or territory. Strata schemes are legally required in some jurisdictions especially if they exceed a certain size of financial threshold.

Even if they’re not bound by law, owners can vote to audit strata accounts even at their owners corporation general meeting.

The strata committee or management may also decide to conduct a strata audit.

Benefits of a strata audit

There are key advantages of having regular audits of strata plans undertaken. Strata audits help:

• ensure the strata scheme’s financial integrity;
• build trust among unit owners by providing assurance that the strata scheme’s financial affairs are being managed properly;
• detect and prevent fraud and financial mismanagement;
• identify areas for improvement in a strata scheme’s financial practices and internal controls; and
• ensure compliance with legal and regulatory requirements reducing the risk of penalties and legal issues.

Trust your property to the strata audit professionals

You’ll find Whittles branches located across Queensland, South Australia, Victoria as well as the Northern and Australian Capital Territories. Client focused and highly skilled, our teams’ commitment to service excellence is the reason we’ve earned a reputation as one of Australia’s most successful strata and body corporate management companies. With more than 55 years’ experience in undertaking strata audits and ensuring strata audit requirements are met, Whittles’ personal and professional approach will give you peace of mind knowing your property is in safe hands.

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Strata Audits

Strata Audits

Specialists in strata audits

Aspects of a strata audit

When is a strata audit required?

Benefits of a strata audit

Trust your property to the strata audit professionals

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