Would an auditor lie? 
“Well, when I was younger, I lied all the time, because once you understand the power of lying, it's really like magic because you transform reality for people.”
—Louis Székely, Jr

It's rare but a few will.

I have heard the condo corporation auditors mislead the owners at two different AGMs early in 2013 and as I attend more of AGMs, I expect to hear even more misleading statements, evasions and out-right lies.

At a meeting last February in Etobicoke, the auditor stated that a $130,000 operating deficit was actually just a timing issue because the payments hadn't been paid yet. A timing issue? Absolute bull.

A few weeks later, when questioned about the entry of very minor repairs and small expenses for such items as fuses and belts being paid out of the Reserve Fund instead of the Operating Funds, the auditor replied that the Act states that the Reserve Funds can be used for "repairs and major replacements". Not true.

Section 93.2 of the Act states: "A reserve fund shall be used solely for the purpose of major repair and replacement of the common elements and assets of the corporation.

Lies like these are rare. Most often, when an auditor is asked a question that he doesn't want to answer, he requests that the chair or the president answer the question. Cute.


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