California HOA Financial Statement Review Requirements
If you're searching for a California HOA financial statement review, HOA CPA review, or an affordable CPA for your homeowners association, Streamlined Reviews can help.
California homeowners associations may be required to obtain an annual CPA financial statement review. At Streamlined Reviews, we specialize in efficient financial statement review engagements and provide California HOAs with a straightforward, affordable alternative to traditional CPA firm pricing.
Already have a quote for your HOA review? If your accounting records are accurate and there are no material adjustments or significant accounting issues, Streamlined Reviews can match or beat a comparable quote for the same review engagement.
Does a California HOA Need a CPA Financial Statement Review?
Under California Civil Code Section 5305, unless an HOA's governing documents impose more stringent requirements, an association with gross income exceeding $75,000 for the fiscal year must have its financial statements reviewed by a licensee of the California Board of Accountancy.
The reviewed financial statements generally must be distributed to association members within 120 days after the close of the fiscal year.
That means many California homeowners associations need a CPA financial statement review every year.
If you're a California HOA board member, property manager, community association manager or management company looking for a CPA to perform your annual HOA review, contact Streamlined Reviews for a competitive quote.
What Is a California HOA Financial Statement Review?
An HOA financial statement review is different from a financial statement audit.
A review provides limited assurance on the association's financial statements and generally consists primarily of analytical procedures, inquiries of management and other procedures required under applicable professional standards.
A review is substantially less extensive than an audit, which generally allows the engagement to be completed more efficiently and at a lower cost.
For an HOA with clean accounting records, reconciled bank accounts and properly prepared financial statements, the CPA review process can be relatively straightforward.
Affordable California HOA CPA Reviews
Streamlined Reviews focuses on financial statement review engagements.
Our objective is to make your California HOA financial statement review:
Affordable
Efficient
Straightforward
Professionally completed in accordance with applicable standards
We don't believe an HOA with clean, accurate accounting records should have to pay excessive CPA fees simply to complete its required annual financial statement review.
Already Have an HOA Review Quote? Let Us Compete for Your Business.
If you've already received a quote from another CPA firm for your California HOA financial statement review, contact Streamlined Reviews before making your decision.
If your accounting records are accurate, your accounts are reconciled, and our review does not identify material adjustments or significant additional accounting issues, we can match or beat a comparable quote for the same HOA review engagement.
Send us your existing quote and basic information about your homeowners association, and we'll tell you whether we can beat it.
How Much Does a California HOA Financial Statement Review Cost?
The cost of an HOA financial statement review depends on several factors, including the size of the association, complexity of its financial activity, condition of its accounting records and whether adjustments are required.
One of the biggest factors affecting the cost of a CPA review is simply how clean the accounting records are when the engagement begins.
An HOA with accurate financial statements, completed bank reconciliations and organized supporting documentation can generally be reviewed much more efficiently than an association requiring substantial accounting cleanup.
That's why Streamlined Reviews offers competitive pricing for HOAs that are ready for review.
How Can Your HOA Prepare for Its CPA Review?
To help make your California HOA review faster and more affordable, have your year-end accounting records ready before the engagement begins.
These typically include your year-end financial statements, general ledger, bank reconciliations, bank statements, investment statements, accounts receivable and payable information, reserve account activity and supporting documentation for significant or unusual transactions.
Clean books can mean a faster review and lower CPA fees.
California HOA Property Managers and Management Companies
Streamlined Reviews also works with property managers and community association management companies that need an independent CPA to perform financial statement reviews for their HOA clients.
If you manage multiple California homeowners associations requiring annual financial statement reviews, contact us to discuss how Streamlined Reviews can provide an efficient review process for your clients.
Get a Quote for Your California HOA Financial Statement Review
If you're looking for a California HOA CPA, need to satisfy the California HOA financial statement review requirement, or simply want a more affordable quote for your association's annual CPA review, contact Streamlined Reviews.
Already Have a CPA Quote?
Send it to us.
If your HOA's accounting records are accurate and the engagement does not require material adjustments or significant additional accounting work, Streamlined Reviews can match or beat a comparable quote for your HOA financial statement review.
Get the CPA review your association needs without unnecessarily high CPA fees.
Streamlined Reviews
California HOA Financial Statement Reviews
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