SCOPE OF WORK A. The scope of the Service Charge Budget Review must be conducted in accordance with the RERA Jointly Owned Property Department guidelines and international best practices. B. The scope of the Budget Review must encompass the following sections: i. Project Details (Particulars of the building/community) ii. RERA Forms (As attached in the Budget Review Report) iii. Financials (Detailed financial review of the budget) iv. Supporting Documentation (Detailed analysis of documentation) v. General Requirements (Compliance related) C. The audit firms shall submit a detailed Service Charge Budget Review Report along with signed undertaking as issued by the RERA, presenting all procedures carried out during the course of the review as well as the results of the service charge review on an annual basis (or upon the RERA request), which should cover, but not limited to, the following: i. Management Company’s compliance with the relevant RERA laws and regulations. ii. Budget Review procedures to ensure reasonableness and fairness of information provided in the Budget Review Report, wherein, any observations, irregularities, or non-compliance should be highlighted and reported to the RERA. iii. Reporting regarding the financial, operational, and compliance-related matters in the report. iv. Confirmation in the report that the auditor has visited physically the project under review to check that the manpower is deployed as per the contract with the service provider. v. Audit firm’s evaluation and conclusion. vi. Review Disclosure Checklist ‘Annexure A’ vii. Manpower List ‘Annexure B’ viii. Tender Evaluation Form ‘Annexure C’ ix. Service Providers Contract Control List ‘Annexure D’ x. Schedule of improvements and other income ‘Annexure E’ xi. Comparison of Budget vs. Budget ‘Annexure F’ xii. Detailed Variance Analysis (Info Pack) ‘Annexure H’ xiii. Undertaking signed by the management company relating to the preparation of the budgets