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Are Wisconsin condo associations legally required to conduct an audit?

| Condo & HOA Law |  


Question:

Our condo association is a corporation. I do not believe they have done an outside audit maybe ever. They take in approximately $700,000 in assessments and fees. Are they required by the state of Wisconsin to have an audit? We do not have an accountant doing the books either. There are 182 units in 26 buildings.  


Answers (6)

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