Is Your Association Ready for Its Year-End Audit?

Is Your Association Ready for Its Year-End Audit?

By: Christian Spencer

Seemingly small financial issues relating to contracts, real estate, and staff can become big problems when audits begin. Here are some important issues for your association to look at before you close the books on 2011.

As the end of 2011 is quickly approaching, associations are beginning to prepare for their annual audits. By now, your auditor has contacted you to discuss the nature, timing, and extent of the work to be performed, which included an upfront planning meeting to address any significant events and transactions that occurred during the year....