
Demystifying the Association Audit Process
An association audit is a meticulous review of the HOA’s financial data, performed in accordance with GAAP. It provides assurance to stakeholders and identifies areas for improvement in internal controls.

An association audit is a meticulous review of the HOA’s financial data, performed in accordance with GAAP. It provides assurance to stakeholders and identifies areas for improvement in internal controls.

The IRS received additional funding with the passage of the Inflation Reduction Act and plans on using some of it to improve taxpayer compliance through a new audit focus that will begin in fiscal year 2024.