Homeowners Associations - Accounting and Auditing Requirements
|CPD Hours:||Attendance at this seminar will secure 2 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)|
There is very little known about Home Owners Associations, even more so because there is no one specific Act governing the conduct of a Home Owners Association. Do you know your rights and responsibilities as trustee / director / home owner of a Home Owners Association? What are the audit requirements? Can a Home Owners Association outsource the account record keeping function to a firm? Are levies compulsory? Join us as we look at the basics of Home Owners Associations, specifically what legislation is at play; what your responsibilties are as a trustee / director over an Association; if you have any rights as a home owner; if there is a need for audit and what the accounting requirements are.
The objective of this course is to: 1. Build a solid base for understanding the fundamental workings of a Home-Owners Association 2. Gain familiarity with any legislation applicable to Home Owners Associations 3. Understanding a Home Owners Association’s responsibility for financial record keeping / accounting and audit
During this session, we will • Establish a foundational understanding of what a Home-Owners Association is and who the various roleplayers are, • Specifically look at any legislation that directly governs an association; and lastly, • Consider the financial reporting requirements, account record keeping and audit requirements.
The following individuals will benefit from attending this course: • Trustees / directors of a Home Owners Association • Home owners of a given Association • Audit managers / seniors who will audit Home Owners (no specific auditing procedures will be discussed during the session, only what the accounting / auditing requirements placed upon Associations are, per supporting legislation)