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ACCOUNTING EXPERTISE

Accounting Expertise

Accounting Expertise for Owners and Tenants

Accounting expertise is a legal means that can serve as evidence before the courts of law to prove any material or financial damage caused to an Owner by the Manager, Accountant, President, Executive Committee or Auditor. In order to be recognized by the court, an accounting expertise must be conducted by a public chartered accountant of the Body of Expert Accountants. 

In case you notice that any damage occurred during the management of your association and you find it necessary to have an accounting expertise conducted, the first step would be to file a criminal complaint with the police precinct of jurisdiction. As a result of this, a judicial accounting expertise may be ordered. The expert accountant will be appointed by the Police together with which you will agree on the expertise goals. The goals may be:

  1. to check out the how the Manager conducted the management so as to show the amounts that were collected, their destination and the payments that were made;
  2. to check out whether the Manager did make the legal entries in the Association’s books;
  3. to check out in all the Registers required by the law for the Owners’ Associations whether the obligations to the State were entered and paid up, as resulting from the Association accounting activity; 
  4. to check out whether the Manager collected and paid up the social health insurance contributions;
  5. to check out whether the legal rules in force have been observed, with regard to the  endorsements and permits needed by the Manager for making the current payments, the necessary or urgent expenses for the Association, the observance of the Cash Desk available cash threshold and the payments made to the service providers through the Association bank account, the lawfulness of any monies collected by the Manager from the members of the Association;
  6. to check out the lawfulness of the calculations made by the Manager for determining the maintenance bill shares or the penalties for the members, as entered in the maintenance bill share list for the Owners’ Association;
  7. to check out all the cash collected by the Manager by comparing the receipt copies to the Cash Register;
  8. to check out every current payments made by the Manager to the service providers, the lawfulness thereof and, in case of big amounts of outstanding debts/penalties payable the Association to the service providers, whether the Manager incurred any unnecessary or non-urgent expenses or kept the money at the Cash Desk without paying the service providers;
  9. to determine the causes for which the service providers charged any penalties, the amounts of the penalties paid in a determined period of time and who was guilty of producing such penalties;
  10. to identify if there are in the Association records any payments lower than the amounts collected in that period of time; 
  11. to determine any damage that was caused to the Owners’ Association or to its members and to identify who was guilty of nonobservance of the relevant legal provisions.

Debt Recovery Procedure

In order to start the recovery procedure for your claims, we will enter into a commercial mandate agreement whereby you authorize us to handle your case. The first stage will be an attempt to recover the claim amicably.

The working methods in such a case include: investigations on the debtor’s solvability and his assets, investigations to identify the corporate shareholders and directors, telephone discussions, notifications, direct meetings. In 90% of cases, this method pays off.

In case, following such procedures, the debtor fails to provide positive reaction to our measures, the litigation will be commenced in order to recover the debt by suing the debtor and subsequently by enforced execution thereof.

Upon recovery our fee will consist in a floating commission between 3 and 20% of the debt value (exclusive of VAT), according to the age and the amount thereof, as determined upon the execution of the mandate agreement, which will be charged at the time of actual effective recovery of the debt.