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Prescribed owners corporations must have their financial statements audited at the end of each financial year

If your owners corporation is not prescribed, lot owners can decide at the annual general meeting whether to get the financial statements audited.

Statements must be audited by either:

  • a registered company auditor
  • a firm of registered company auditors
  • a person who is a member of CPA Australia, the Institute of Public Accountants or the Institute of Chartered Accountants in Australia
  • any other person who is approved by the Director of Consumer Affairs Victoria.