HOA Financial Audit
Can your Board afford NOT to evaluate your financial practices?
Gone are the days of shoebox accounting! Managing an HOA means putting complex financial systems in place and most likely more than one cash handling center. You want to build confidence in your HOA members that your Board is managing the financials correctly.
The Hignell Companies can provide an outside audit to help you evaluate your internal controls and make sure that you are staying compliant and mitigating fraudulent activity.
We’ll help you ask and answer the right questions such as:
- Who is doing your financials and what do they look like?
- Who is handling the money and what kinds of safeguards are set up to protect the HOA from embezzlement?
- What is the policy for late HOA fee payments?
- Who pays the Association bills?
- Do you have a reserve plan?
- What types of insurance do you have and do you need?
We can also help you with:
- Segregation of financial duties
- Records maintenance
- Cash handling centers (office, store, snack bar, golf course, etc.)
Accounting is one of the most crucial areas of your HOA and one that happens to be the area most Association’s remain uncompliant with the law. Which is why we will also review the financial statements and preparation of those financials in relation to the Davis-Stirling Act.
The hours needed will depend on the size and complexity of your Association. For a minimum of 5 hours we can provide a basic financial audit.
Fill out the form and one of our Certified HOA Managers will contact you about doing a financial audit for your Association.
*We'll also send you our free HOA resources "Tips to Avoid HOA Lawsuits" because we believe in the importance of protecting your HOA by staying compliant!*
At The Hignell Companies we have years of experience auditing hundreds of homeowner associations with multiple cash handling centers.
Whatever the complexities of your association, a financial audit by The Hignell Companies will provide the assurance you need, and your members require of you.
