Common Interest Advisors’ Examination Group does not offer Audit, Review, and Compilation Services. Instead, it offers Assessment Audits, Management Audits, and Forensic Audits.
An assessment audit closely examines the CIRA’s key reports and studies, including but not limited to Reserve Studies, Annual Financial Statements, Federal and State Income Tax Returns and Annual Budgets. The final report makes findings, conclusions and recommendations.
A management audit is an analysis and assessment of board and management’s competencies and capabilities in carrying out corporate objectives. The management audit assesses the CIRA;s overall management, not the performance of individual managers, and the management audit report identifies areas where improvements can be made.
A forensic audit is an analysis and review of the CIRA’s financial records to extract facts, which can be used in a court of law or legal proceeding.
An assessment audit and forensic audit can be requested by anyone who has access to the CIRA’s books and records. On the other hand, a management audit can only be requested by the CIRA’s board of directors or court order.