---
title: Does our condo complex need a financial audit?
description: I live in a small 10 unit condo complex in Alaska. The Declaration was legally amended to change the audit requirement to a review of the books
---

[Condo Q&A ](https://www.condoassociation.com/blog)

# [Does our condo complex need a financial audit?](https://www.condoassociation.com/blog/does-our-condo-complex-need-a-financial-audit)

 Written by [CondoAssociation.com](https://www.condoassociation.com/blog/author/condoassociationcom) | Fri, Dec 22, 2017 @ 05:15 PM

I live in a small 10 unit condo complex in Alaska. The Declaration was legally amended to change the audit requirement to a review of the books every other year by a licensed CPA. About a year ago I requested a copy of the latest audit and learned one had not been done for at least seven years. At the last owners meeting the manager stated that for small condo associations a federal tax return suffices for an audit. I have researched state laws and could not find anything that backed up the manager's statement. Has anyone heard a tax return suffices for a review? What will a review of the books reveal? Shouldn't the manager encourage the board to follow Declaration requirements until they are legally changed?

[View full post](https://www.condoassociation.com/blog/does-our-condo-complex-need-a-financial-audit)

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