The auditor’s report
It is normal practice for the corporation's external auditor to attend
the AGMs. However, he does not always have to attend so if the owners
have questions for the auditor, and you think that the board has something to hide, it may be best to request his
The Act states that any owner can request the auditor or a former
auditor to attend an AGM or any owners' meeting. The request must
be in writing and a copy sent to the board.
the meeting has been brought to order, and the minutes of the
previous meeting dealt with, the auditor's report is usually next on
the agenda. This is because the auditor doesn't want to hang around any
more than he has to. (Often, the Chair says that the auditor needs to
speak first as he has another AGM to attend but that may or may not be true.)
Unless a group of owners have studied the financial report and have
noticed questionable entries, or that there are issues that should have
been covered by Notes at the back of the report, the auditor normally
does not have to
answer many questions.
The main point to keep in mind is that the financial report is not the
responsibility of the auditor. It is the board's report. He just did a
sampling to determine if all the entries seem to be in order.
Individuals have questions
Outside a duly called owners meeting, the auditor does not have to
answer questions from individual owners who call him at his office or
send him a letter without being paid for his time. However many
auditors will answer a couple of simple questions over the phone.
However, if the owner's questions will take some time, the auditor may
refuse to answer the questions unless the corporation agrees
to pay him. He could also ask for payment from the owner to
compensate him for his time.
Alternatively, the auditor may bill the condo corporation who could then
add the expense to the owner's common element fees.
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