Audit Requirements
Retain an independent auditor to audit your
financial statements. To prepare for an audit, gather:
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Financial statements prepared by your accountant or bookkeeper.
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Operating agreement(s).
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Year’s financial records including journals, rent rolls, cancelled cheques, cheque stubs, receipts and invoices.
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Society Constitution and Bylaws or co-op Memorandum and Rules.
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Minutes of Board meetings.
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Policies and procedures manuals.
Give a copy of the
Financial
Reporting Requirements supplement
to your auditor to ensure they know which financial
statements are required.
Submit your audited financial statements for HOMES
BC developments to Operational Support at BC Housing for review and
approval, within four months of the fiscal year end. For all other
housing programs administered by BC Housing, submit the documents
within three months. HOMES BC statements must include confirmation
that surplus funds are accounted for and spent according to the
terms of the operating agreement.