HOAs are audited by following the requirements of the International Standard on Auditing ISAs however, because an HOA is not a profit-oriented entity, an audit trainee will need to be aware of how this unique business model skews their focus when attempting to successfully carry out the fieldwork phase of an HOA audit. As HOAs are becoming an increasingly popular way to gate-keep residential areas, it brings with it increasing need for auditor awareness when considering the unique circumstances of auditing such an association’s financial statements.