Working with over 40 different condominium associations on an annual basis certainly gives us a strong understanding of the industry and its unique features. Our CPA firm is experienced in all required federal and state tax filings as well as in preparing fund financial statements. Newburg offers condominium association audits and reviews in and around Boston, MA.
Condominium Association Audits and Reviews Experience in Boston, MA
Newburg & Company, LLP, located in Waltham, MA, provides a variety of financial services to condominium associations of all sizes throughout the Boston area. Our philosophy is to ensure our clients receive superior service in a timely and cost effective manner. Our extensive experience and refreshing approach allow us to provide quality audit, review, tax and consulting services in an efficient manner.
Condominium Association Requirements
Massachusetts General Laws require associations with greater than 50 units to have at least an annual review of the financial statements. Even in those situations when review services are not required, it is sound business practice to have some level of service performed. Financial statements, prepared by an independent CPA, give potential and existing residents increased confidence in the financial reporting of the association. Audited financial statements provide the highest level of assurance due to the extensive procedures required in order to prepare them. Reviewed statements provide limited assurance since they are less comprehensive than audits and primarily consist of inquiries and analytical procedures. Compilations provide no assurance and are designed to help present your company’s data in proper form based on GAAP or OCBOA.
The services we provide include:
- Audited Financial Statements
- Reviewed Financial Statements
- Compiled Financial Statements
- Preparation of Federal and State Tax Filings (Form 1120H)
- Consulting Services
Timely Services and Value
Our philosophy is to ensure our clients receive quality service in a timely manner. It is our goal to ensure that our condominium clients receive preliminary copies of their financial statements and tax returns within a two to four week time frame after we have performed all necessary fieldwork.
Our CPA firm’s experience in the condo industry allows us to provide services in an efficient manner. As a result, we are able to offer our condominium association audits and reviews in Boston, MA at extremely competitive prices.