Condominium and Homeowners Associations
Roselli, Clark & Associates is an expert level provider of audit and other accounting services to condominium and homeowner associations. Condominium and homeowner associations are one of the original two core industries serviced since the inception of the firm back in 1988.
Condominium and homeowner association board members fulfill important roles that require a significant fiduciary responsibility to ensure that association financial business activities are properly overseen. We understand boards are constituted by volunteer members; therefore a need for guidance from industry professionals to facilitate informed decision-making and strategic financial planning for the future is an essential resource for associations.
An accounting service that helps convey financial results to board members and the association membership is the annual audit, review or compilation service. In Massachusetts, the need for such service is not a choice as Massachusetts General Laws require associations with 50 or more units to have at least an annual review performed. We feel that even in those situations when the service is not required, it is sound business practice for an association to have some level of service performed by a CPA Firm.
Additionally, we have advised associations on a variety of tax situations and performed evaluations and provided advice with regards to the unique tax filing options reserved specifically for condominium and homeowner associations.
Our firm is eminently qualified to provide these services. Our exposure to dozens of the largest associations’ agent-based management companies located within Massachusetts and New Hampshire has facilitated an efficient completion of these engagements.
Approach to Attestation Services
We utilize the Practitioners Publishing Company’s (PPC) Guide to Common Interest Realty Associations to ensure that our accounting and reporting services is fully compliant with professional standards promulgated by the American Institute of Certified Public Accountants (AICPA). This guide is nationally recognized as the industry standard across the United States and assists us in designing our audit, review, compilation and tax preparation processes.
We are confident that by engaging our firm for your association’s reporting and tax preparation services, we will successfully demonstrate our knowledge and commitment to meeting your association’s needs in a productive and timely manner.