When you hear the term “HOA” what is the first thing that comes to mind? If you’re like I used to be, your first thought is probably “Oh, wonderful! I get to live in a community where a bunch of people gets to tell me what I can and can’t do with my own home.
Homeowners associations vary in size and complexity. The resources available to your HOA and the involvement of the board are key factors when determining whether to hire an outside accountant or management company, or to utilize the board to handle the finances. The controls implemented will vary based on which direction you choose to go.Continue reading “Internal Fraud Controls to Protect Your Association…”