Current Issues with Owner Management Companies ROI

Speaker – Will Townsend, Cooney Carey

  • What is an Owners Management Company (Residential / Mixed Use Development)?
  • Multi-Unit Development Act, 2011 – what companies does it apply to?
  • Accounting & Auditing issues that may arise
  • Revenue recognition
  • Taxation matters
  • Service charge debtor’s collection and inclusion of impairment provision or not
  • Revenue recognition – service charges, sinking fund, levies
  • Use of a service organisation – property manager (PSRA)
  • Related party transactions – common examples (directors, developers, property managers)
  • Fixed assets – capitalisation or expense
  • Going concern – potential cash flow issues need to be reviewed
  • MUD Act 2011 – needs to be considered
  • Application of audit exemption abridged financial statements and FRS 102 1A
  • Directors Report v’s MUD Annual Report requirements
  • Current topical issues
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