When it comes to year-end financial obligations of associations, most boards are aware of general requirements, such as providing financial statements to the owners, finalizing a budget for the upcoming year, and completing a board-review of the association’s financial records. From time to time, boards may also opt for a more thorough assessment of the association’s finances by engaging a Certified Public Accountant (“CPA”) to conduct an annual audit or review. Some boards may not, however, be aware that their governing documents actually mandate a CPA audit or review be performed annually.   Read the article……………….