With the increasing numbers of private and industrial/commercial projects being built in the recent years, Management Corporation Strata Titles (MCST) were being constituted, and the growing demand of service expectations of Management Councils, Managing Agents are tasked with meeting these challenges to remain highly competitive. We have been auditing and consulting MCST accounts since 1985 and would like to share with you, our knowledge and experience in Accounting and Auditing requirements under the Provisions of Building Maintenance and Strata Management Act (BMSMA).
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FUNDAMENTALS OF MCST AUDIT
An audit includes examining, on a test basis, evidence supporting the amount and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. In addition to our audit report on the financial statements, we also include a separate letter concerning any material weakness in accounting and internal control systems, which arise from the audit.
OUR CLIENT PORTFOLIO
We are currently one of the few auditors specialising in MCST audit and liquidation. Our client portfolio consists of more than 400 MCs comprising residential (condominium), commercial (shopping centres, industrial building) or residential cum commercial.
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