HOA audits play a critical role in ensuring financial transparency and accountability within community associations.
In this episode of The Uncommon Area, host Matthew Holbrook sits down with CPA Sam Timothy to discuss how HOA audits work and what boards should pay attention to when reviewing financial reports.
They explore how auditors verify cash balances, confirm expenses, and identify irregularities that may indicate fraud or financial mismanagement. The conversation also covers internal financial controls, the purpose of forensic audits, and how tax rules apply to associations.
Guest:
Sam Timothy, CPA
Timothy, DeVolt & Company
LinkedIn: https://www.linkedin.com/in/sam-timothy-c-p-a-3b9b17/
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