An audit intended to verify various points concerning the divided co-ownership, in particular:
- the budget;
- the financial statements;
- the declaration of co-ownership and, if required, any amendment thereto;
- that an insurance policy is held by the syndicate of co-owners;
- that the syndicate of co-owners is registered with the Enterprise Registrar;
- the amount of the monthly common expenses for the subject unit and to ensure that they are paid up to date;
- if the co-owner selling the subject unit must pay additional fees to the syndicate for a common portion for restricted use of which it is the user, for example, a parking;
- the total amount currently accumulated in the contingency fund;
- all the minutes of meetings of co-owners or at least those of the last 5 years;
- if there is a special assessment relating to the subject unit for the current financial year or if a special assessment is to be expected in the near future or if a special assessment not yet due has already been passed;
- if legal proceedings are pending or about to be instituted against or by the syndicate;
- if insurance indemnities are payable to the syndicate;
- if a board of directors is in place and the directors are in office;
- if the current financial year is leaning toward an operating deficit;
- if any proposed regulations or amendment to the condominium declaration to be adopted soon;
- if any proposed by-laws or amendment to the declaration of co-ownership are to be passed soon;
- if a service manual or maintenance handbook is in place and if it is observed by the syndicate.