Financial Reviewer’s Report

A written Financial Reviwer’s Report must be presented to the executive board and association after the books and financial records of the association have been financially reviewed. An Financial Review Checklist and separate Financial Review Report page is required for each account. A report detailing findings and recommendations makes up the third component of a financial review. If all is in order, the financial reviewer or financial review committee prepares a report, and the financial reviewer or each member of the committee signs it.

A report must also be submitted by the financial reviewer or financial review committee in the event that there are not adequate records available to conduct a proper accounting of the association funds. The financial review report must be officially adopted by the association and uploaded to the document retention system (Financial Review Report).

If the financial review is not conducted by a qualified accountant, a financial review committee must examine the financial review and sign the financial review report prior to the financial review report being presented to the executive board and association. A qualified financial reviewer is defined as someone who has been trained/licensed to conduct audits and/or review accounting records, such as a Public Accountant or Certified Public Accountant (CPA). They do not need to be currently employed in the field.

See Financial Review Report form and Financial Review Checklist.

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