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By CondoAssociation.com • April 15, 2018

Suspicion over new condo association accounting process

The management company of my condo in Maryland has recently informed me the Association has an accountant that produces our annual audits. This accountant appears to work for our auditor that produces our annual audits.

I have an odd feeling that something is inherently not quite right with this situation when an auditor is supposed to be independent.

And it appears to me that a ‘fox is guarding the Association’s chicken house’ when it comes to the production of financial statements that form the basis of our annual audits. These financial statements are required in our Condo’s bylaws.

The Consumer Protection Division of the Maryland Attorney General’s Office doesn’t handle this issue.

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Please note that blog comments and postings are not legal advice, rather only the opinions of our readers.

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