Commercial and residential service charge audits
Within most leases there is a requirement for the landlord to provide an annual statement of service charge expenditure to occupiers after a service charge period. It is common for the annual statement to be certified by the landlord’s surveyor, managing agent, and accountant. Certain leases might also require the statement to be audited.
Where there is no express requirement in the lease to prepare an annual statement of service charge expenditure, it is considered good practice. It provides a level transparency to the occupiers if a service charge statement is prepared and certified.
At Wisteria, our principal aim is to assist property management agencies and property owners to meet their service charge obligations and obtain certification. Our clients rely on us to deliver a comprehensive, flexible, value-for-money service, backed by a thorough understanding of the commercial and residential property industry.
A flexible service
Our service charge team has over 50 years combined experience. They undertake service charge audits and related work for over 150 properties, ranging from small residential and commercial sites to large regional shopping centres.
Our procedures have been designed to recognise the risks of misstatement and to ensure that these do not produce delays. Our standard approach of 100% testing of transactions, supported by analytical review procedures, give the best assurance that the annual statements are free from material misstatement.
Our services include:
- Preparation and certifying the annual statement of service charge expenditure
- Ensuring recoverable expenses and non-recoverable expenses are correctly allocated
- Preparation of statutory accounts for management companies
- VAT and other tax advice
- Registered auditors
We work closely with managing agents and leaseholders alike, delivering an efficient, timely and cost-effective service. If you would like to learn more about service charge audit services, please don’t hesitate to get in touch.
