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COMMUNITY OF OWNERS - AUDITING OF ACCOUNTS

COMMUNITY OF OWNERS - AUDITING OF ACCOUNTS

Old May 10th 2009, 5:42 am
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Default COMMUNITY OF OWNERS - AUDITING OF ACCOUNTS

Having been part of a Community of Owners now for a few years, it occurred to me that an awful lot of our money passes through the hands of our Administrator (who does and outstanding job). Is there, in Spain, like there is in the UK, a requirement in law to have periodic audits (every couple of years or so) of the Community of Owners Accounts?
Any advice appreciated.
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Old May 10th 2009, 7:53 am
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Default Re: COMMUNITY OF OWNERS - AUDITING OF ACCOUNTS

Originally Posted by cymruambyth
Having been part of a Community of Owners now for a few years, it occurred to me that an awful lot of our money passes through the hands of our Administrator (who does and outstanding job). Is there, in Spain, like there is in the UK, a requirement in law to have periodic audits (every couple of years or so) of the Community of Owners Accounts?
Any advice appreciated.
Unless there has been a recent change in the law which I am not aware of, statutory audits are only required for companies (meeting certain size criteria). Owners Associations do not come under these obligations. There is, however, nothing to prevent an association voting to have its annual accounts audited.
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