Forensic Accounting for HOAs, Condos and Co-ops
When the books are unclear or transactions raise questions, your board needs a clear view of the records.
Understand what the records show.
Incomplete records, problems left by a previous bookkeeper, or concerns about missing funds can make it difficult for HOA, condominium and cooperative association boards to understand their finances. Royale can review the available records and help the board identify discrepancies and decide what needs closer examination.
Start with a conversation.
In the proposal form, select Management & Accounting and describe your forensic accounting request in the notes. We can discuss the scope of a review.
Identify available statements, ledgers and supporting records.
Compare transactions and balances with the records behind them.
Look more closely at discrepancies and unanswered questions.
Present the review and outstanding questions to the board.
A discrepancy does not by itself prove wrongdoing. A careful review helps the board understand what is documented and what remains unresolved.
Clear Records
Bring statements, ledgers and supporting documents together for review.
Focused Review
Examine transactions and balances that need an explanation.
Board Visibility
Give the board a clearer picture of the records and open questions.
A review built around your board's questions.
- Review of available financial records
- Comparison of bank statements and accounting records
- Review of transactions and supporting documents
- Identification of discrepancies and missing documentation
- Discussion of unresolved questions with the board
- Coordination with the association's outside CPA when appropriate
Bring clarity to the books.
Cleanup and investigation serve different needs.
Routine bookkeeping cleanup and reconciliation can correct or explain ordinary record problems. A forensic review takes a closer look at specific discrepancies or concerns. The appropriate scope depends on the records and the board's questions.
More support for association boards
Frequently asked questions.
Answers to common questions about reviewing association financial records.
Ask us directly→A board may want a closer review when records are unclear, balances do not reconcile, supporting documents are missing, or transactions raise questions about the association's funds.
No. A discrepancy can have several explanations, including an error or incomplete records. A review examines the available information without assuming an outcome.
Cleanup and reconciliation address ordinary record and balance problems. A forensic review examines particular discrepancies or concerns in greater detail. The scope should be agreed upon for the association's situation.
Bank statements, ledgers, financial reports, invoices, payment records and prior accounting documents can help. We can discuss what is available and what may be needed.