Running a Management Corporation Strata Title (MCST) comes with many responsibilities — and one of the most important is keeping your finances in order. An MCST audit is not just a legal requirement in Singapore, it’s also essential for ensuring transparency, accountability, and trust among property owners. If your accounts are disorganised, an audit can quickly turn stressful. But with the right preparation, the process can be smooth and straightforward. Here’s how you can get your accounts ready for a stress-free MCST audit. 1. Know What the Audit Covers Before you start preparing, understand what the auditors will be looking at. In most MCST audits, they will review: All income and expense records Bank statements and reconciliations Contracts, invoices, and payment vouchers Sinking fund and management fund accounts Petty cash records Having a clear picture of the audit scope helps you focus on gathering the right documents. 2. Keep Your Financia...