PERFORMANCE AUDIT ONTARIO

• The examination phase occurs in two parts:

1. As part of our performance audit methodology, we focus on reviewing documents regarding past survey programs and construction.
2. The auditor completes a physical observation of the building, with a performance audit tracking summary.

• The auditor will complete additional investigative services to assess the performance of specific building elements (e.g., thermographic scans, testing, etc.) if required. Surveys of unit owners may be required.
• The performance audit report is finalized and submitted.

The audit objective is to identify any deficiencies in the common elements and develop procedures for improvement. However, auditors will utilize a variety of testing methods to answer key questions and confirm their findings. At ABSI, we have the skill and available resources to complete the audit program for your condo corporation.

Accent Building Sciences Inc. staff and internal auditors offer expertise in all required engineering disciplines and testing methods to complete a comprehensive performance audit and categorize various deficiencies. These practices will allow our auditors to evaluate common elements with a high degree of effectiveness.

Clients will receive a comprehensive report with the details and findings of the assessment, reporting of any deficiencies, the details and findings of the assessment, including the effectiveness of the management systems and internal controls, warranty items, and any limitations encountered during the audit. A copy of the inspector's certificate of authorization as issued by the Professional Engineers Act will be included.

The Ontario New Home Warranties Plan Act requires performance audit reports to be submitted to Tarion before the eleventh month following the registration of the declaration, as part of the warranty process. The report will help guide remediation under the 12-month warranty and the planning processes to have the deficiencies corrected.

Audits must take place no later than ten months following the registration of the declaration and description of the condo – relatively the same time period that a reserve fund study must be completed. As a result, many condominium corporations choose to have their audits and reserve fund studies completed in conjunction with audit work.

At ABSI, we are extensively experienced in both performance auditing and reserve fund studies. We complete both assessments and financial audits in conjunction, promising efficiency for your management group. You will have everything you need to meet government criteria and compliance.