An independent review of the HOA's financial records to verify accuracy and compliance.
An HOA financial audit is an examination of the association's financial statements and records conducted by an independent certified public accountant (CPA). A full audit provides the highest level of assurance — the auditor tests transactions, confirms balances, and expresses an opinion on whether the financials fairly represent the association's financial position. Less rigorous alternatives include a 'review' (limited assurance) or 'compilation' (no assurance, just preparation). Many states require audits or reviews for HOAs above a certain budget size. Community governing documents often require annual audits regardless of state law. The audit report and financials should be made available to members.
Audits detect errors, fraud, and mismanagement before they become catastrophic. They also provide credibility to the financial statements shared with buyers, lenders, and members.
Financial Disclosure
Mandatory financial documents the HOA must provide to members, often annually.
Annual Budget
The HOA's year-ahead financial plan detailing expected income and expenses for both operations and reserves.
Treasurer
The board officer responsible for overseeing the HOA's financial accounts and reporting.
Fiscal Year
The 12-month accounting period the HOA uses for budgeting and financial reporting.
LotWize handles audit tracking automatically — along with violations, ARC requests, meeting minutes, and homeowner communications, all in one platform built for self-managed HOAs.
Start 14-Day Free TrialThis page provides general information only — not legal or financial advice. HOA laws vary by state and community. Always consult your governing documents and an HOA attorney for guidance specific to your situation.