Do you need a review of the most difficult and frequently found accounting, auditing, review, compilation, and preparation issues in Common Interest Realty Associations (CIRAs)? This program reviews new FASB pronouncements that impact CIRAs, Audit issues, and new SSARS requirements for 2018, SSARS 21 engagement letters, changes to reporting formats, reserve issues, and turnover situations for residential and commercial condominium associations (condos), and homeowners’ associations, and other matters that impact CIRAs. Issues include assest recognition, reserve considerations, disclosures, bad debts, and budgeting implications. This session also discusses what is authoritative GAAP for CIRAs and where does one find it. A review of the AICPA’s standards for Compilations, Preparation of Financial Statements, and Non Attest Services for CIRA Attest Clients. Recently issued SSARS 22 and SSARS 23 will be reeviewed for CIRA impact.
Who Should AttendCPAs with an interest in CIRA accounting and auditing issues, including those in public practice, real estate management, accounting; professional employees in the CIRA industry; residents, officers and board members; and professionals with an interest for clients, friends or relatives who are connected with CIRAs.
Instructional MethodGroup: Internet-based
NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)
Program PrerequisitesA basic understanding of the CIRA Industry.