In the absence of an industry Committee, does the property company have the obligation to publish financial statements to the owners?

Financial disclosure does not mean publishing financial statements.

Generally speaking, the income and expenditure of property management fees can be summarized only by publicity in the managed projects. If the owners have doubts about the published data, they can start the audit mechanism of the owners' meeting, hire a professional audit department to audit the income and expenditure of property management fees and issue an audit report.

According to the provisions in the Measures for the Administration of Property Service Charges:

1. The publicity of property fees is stipulated by the state and has nothing to do with whether or not an industry committee is established. Property companies should take the initiative to publicize whether there is an industry Committee.

2. The publicity of property fees only publicizes the income and expenditure of property fees, and does not require property companies to publicize all their financial statements.

3. The owner has the right to question the data published by the property, and the property enterprise has the obligation to give a reasonable explanation to the owner's query, but it does not mean that the owner has the right to consult the accounts of the property company.