Service Charge Audits

Service Charge Audits

Whilst a service charge audit can so often be a necessity, carrying out a residential or commercial service charge audit can be a hassle and drain on the time of managing agents and larger commercial landlords. This time is better spent focusing on managing your business, property assets and clients.

Commercial and residential service charge audits

Within most leases there is often 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 as it provides a level transparency to the occupiers if a service charge statement is prepared and certified.

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 that 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 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 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.

Require a service charge audit?

Fill in the form below to request a call back from a member of the Wisteria team.