QUOTE(peri peri @ Jul 7 2015, 04:22 PM)
unless you are immune to jail, you can go ahead to cheat those funds.
the last chairman, we try to initiate criminal case against him... took us 2 years until we pressure the branch IO from bukit aman.
QUOTE(jinsailoo @ Jul 7 2015, 04:27 PM)
in malaysia every one can immune to jail, as long as you have enoght kopi
I second the kopi o part cause the X person was rumoured to make a funny request, which led to delay in investigation.
QUOTE(peri peri @ Jul 7 2015, 04:37 PM)
never try never know but than again better don't try. people actually went after the chairman, his house kena painted red. one committee member's car got extra special treatment (all cermin pecah and door kemek).
QUOTE(cherroy @ Jul 7 2015, 04:37 PM)
Account needs to audited every year, you can't just take the money out without any reason, or transfer to any individual account.
It is a CBT offence if simply take a public money (management fund) into personal use.
Auditor will easily find out when audit the account time.
But only buying engage with a specific contractor/company or cronyism, buying expensive etc is the grey area which should be aware of.
Adopting open tender process, openness during committee meeting etc are several good way to reduce such a grey area.
The modus operandi, both account and auditor are in the pocket of the chairman.
If the item of contention is agreed upon by all committee members and recorded in the minutes, the contention no longer exist and becomes legitimate.
open tender is the best but the tender committee must have technical experience. I was part of a pre-liminary interviewing team, was quoted Rm 1m for repainting job, my colleague did some rough calculation and knocked it down to RM 700K. All of the contractors quoted more or less 1M +. So careful with open tender as well and best do itemized tendering.
QUOTE(ic no 851025071234 @ Jul 7 2015, 04:41 PM)
Who will be the responsible to audit the condo account? The is committee liable to some regulation? Cos from current situation the committee can just ignore and not do any audit
It's the duty of Dev, JMB and MC to have the accounts audited and have a copy of the audited account file with COB.
See:
section 14 (Developer), 26 (JMB) and 62 (MC) of the Strata Title Management Act
Failure:
Maybe liable up to 3 years imprisonment or fine of up to 250K or both.
QUOTE(cherroy @ Jul 7 2015, 05:02 PM)
Normally it is external auditor, just like ordinary company.
MC is liable to any sue if there is any misbehave.
If current MC is not doing a proper job and convey an AGM due, owner can complain to COB and COB can empower other owner to convey an AGM.
to add:
If condition is serious enough, ask COB to instruct JMB/MC to hold EGM.