Specialized Capacity for CPA Firms
CIRA, HOA & Condominium Audits
Specialized audit capacity for condominium associations, homeowners' associations, cooperatives and other common-interest realty association engagements - within your firm's methodology and review process.
Our professionals work with U.S. CPA firms to prepare assigned workpapers, testing schedules, financial statements and completion tasks for common-interest realty association engagements. Scope is defined by the engagement requirements and your firm's methodology, software and review process.
Relevant Guidance
- FASB ASC 972
- AICPA Audit and Accounting Guide - Common Interest Realty Associations
- Applicable State Requirements
Applicable accounting, reporting and state-specific requirements are determined by the client CPA firm for each engagement.
What Our Team Handles
- Operating, Replacement Reserve & Special-Assessment Funds
- Member Assessments & Ancillary Revenue
- Reserve-Study Reconciliation & Future Major Repairs
- Interfund Balances, Transfers & Restricted Cash
- Operating Expenses, Liabilities & Major Repair Projects
- Fund-Based Financial Statements & Supplementary Information
CIRA Workpaper Review & Related Tax Preparation
Within the assigned scope, our firm can perform an internal workpaper review focused on mathematical accuracy, interfund consistency, financial statement tie-outs, disclosure support and the resolution of open items.
Where separately included in the engagement scope, our tax team can prepare Form 1120-H or Form 1120 workpapers and draft returns based on the available records and tax positions approved by the client CPA firm. The client CPA firm retains responsibility for tax positions, final review, client communication, signing and filing.
Need additional capacity for upcoming CIRA engagements?
Tell us about your engagement mix, software, timing and the workpaper areas you want our firm to handle. We will help define a practical starting scope.