Financial Assurance Services for Homeowner Associations (HOAs)

We are equipped to work with a variety of homeowner associations—associations that are self-managed as well as those that are managed by a property management company. We have successfully assisted homeowner associations in the following capacities:

• Audits, reviews and compilations of financial statements

• Preparation of financial reports

• Tax planning and preparation

Does your HOA need an audit?

The need for an annual independent audit may be specified by your HOA bylaws. HOAs should perform a full audit and/or periodic reviews to assure members of financial statement integrity. Audits provide the highest level of assurance, while reviews provide limited assurance.

Step 1: Initiating an Audit

You can request a proposal by calling or emailing Davis & Company CPAs. Please include the following information in your message:

• Fiscal year end

• Legal name of the HOA

• Number of units

• Financial statements that cover the period of the audit

Once this information is received and processed, a proposal known as an engagement letter will be sent to you. This letter must be signed by a Board Member or Property Manager and returned to our office.

Step 2: The Audit

We will conduct a thorough audit and issue an audit draft, which is an unsigned copy. This draft should be reviewed thoroughly, and our team is available via phone or email to answer any questions that you may have. You should sign the representation letter only after you fully understand the audit draft.

Step 3: Receiving the Final Audit

You will receive a signed final audit once the representation letter has been signed by the management company as well as the President and Treasurer of your association. You should then send the final audit to your Homeowners.