Sample Disclosure – Auditors’ Report Pursuant to Section 17 (2)(b) of the Building and Common Property (Maintenance and Management) Act 2007 (19 February 2009)
Report of the auditors pursuant to Section 17 (2)(b) of the Building and Common Property (Maintenance and Management) Act 2007 for XXX Condominium (“the Property) developed by ABC Berhad (“the Company”) to the Commissioner of Buildings
We have audited the accompanying statement of receipts and payments on moneys collected and expended (“the Statement”) for the purpose of maintenance and management of the Property developed by the Company stated from page x to page x for the year ended (day/month/year) pursuant to Section 17 (2)(b) of the Building and Common Property Maintenance and Management) Act 2007.
The directors of the Company are responsible for the preparation and fair presentation of the Statement in accordance with cash receipts and payments basis of accounting. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of the Statement that is free from material misstatement, whether due to fraud or error.
Our responsibility is to express an opinion on the Statement based on our audit. We conducted our audit in accordance with approved standards on auditing in Malaysia. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the Statement is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the Statement. The procedures selected depend on our judgment, including the assessment of risks of material misstatement of the Statement, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the Company’s preparation and fair presentation of the Statement in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. An audit also includes evaluating the overall presentation of the Statement.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
In our opinion, the Statement presents fairly, in all material respects, the cash receipts and payments of the Property for the year ended (day/month/year) in accordance with the cash receipts and disbursements basis of accounting.
The Statement has been prepared in accordance with the cash receipts and disbursements basis of accounting pursuant to Section 17 (2)(b) of the Building and Common Property (Maintenance and Management) Act 2007. Our report is intended solely for ABC Sdn Bhd and Commissioner of Buildings only and for no other purpose.