One Ontario condominium corporation, from the board’s first upload to the CPA’s close. Press play, or jump to the part you want to see.
Every name in this walkthrough is fictional. The figures were set in advance, so each result on screen can be checked against a known answer.
The firm sets up the condominium corporation and its board, and the file opens with Ontario wording and the Condominium Act, 1998 throughout.
The board uploads its records once, answers the intake, including the special assessment and the borrowing, and re-uploads anything the CPA asks for again.
Two hundred and fifty units and their proportions of common interest read from Schedule D of the declaration, checked against its own total.
Nothing is processed until a person verifies every document. Then the ledger, trial balance and statements are read.
The engagement letter, the management contracts, the board and the prior-year statements are read and offered as suggestions the CPA confirms.
Every ledger line tested against the bank, and every bank line against the ledger, so what was never recorded is found too.
A reproducible sample, invoices read and checked: a transposed amount, holdbacks, cut-off, an invoice addressed to another corporation and one paid twice.
Every unit’s monthly fees tested, three funds kept apart, and the entries proposed with their working for the CPA to accept.
The reserve fund study, the plan for future funding and the contribution actually made are compared and reported to the board.
The auditor’s report, the statements and the letters to the board. Fifteen gates; only the CPA can close, and the database enforces it.
The second audit is linked to the first. Openings, comparatives and control descriptions arrive as suggestions; last year’s conclusions never do.
Every source document opens beside the screen the CPA is on: the statement beside the bank rows, the invoice beside its checklist.
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