Why Choose a Management Company with an In-House CPA

Managing the financial health of a Homeowners Association (HOA) or Condominium Owners Association (COA) is a complex task. Boards must oversee budgets, reserves, audits, and reporting—all while staying compliant with state and federal regulations. Without professional oversight, many associations encounter missteps, including mismanaged reserves, incomplete budgets, and discrepancies that affect the entire community.

For example, one HOA underestimated its reserve needs and had to issue a special assessment when unexpected repairs arose. With proper financial forecasting and CPA involvement, this could have been avoided.

The Value of an In-House CPA

A Certified Public Accountant brings more than accounting knowledge—they bring oversight, accuracy, and strategic guidance. While general accounting staff manage daily transactions, the CPA ensures compliance with Generally Accepted Accounting Principles (GAAP) and relevant laws. They analyze trends, support planning, and help boards make data-informed decisions that protect the association’s financial future.

The Importance of Clean Financials

Accurate, well-maintained financial records prevent discrepancies and promote transparency. Clean financials not only simplify communication with homeowners but also enhance credibility with auditors and regulators.

One community saw significant improvements in budget accuracy, reserve funding, and forecasting after incorporating regular CPA oversight. The result? Increased homeowner trust and board confidence. On the flip side, a lack of CPA involvement can lead to costly errors and even legal complications.

Smoother Audits, Less Stress

Disorganized or inaccurate financials can make audits stressful. An in-house CPA helps ensure financial reports are accurate and complete throughout the year, reducing surprises during audits. Their involvement also strengthens the relationship between boards and auditors, streamlining the process and minimizing compliance risks.

Ensuring Compliance and Reducing Risk

Many states require associations to maintain properly funded reserves and follow strict financial regulations. A CPA ensures these requirements are met, protecting the association from violations and financial strain. They also implement internal controls to reduce the risk of fraud or mismanagement.

Supporting Long-Term Stability

A CPA’s role extends beyond short-term reporting. Their expertise in financial planning, forecasting, and risk mitigation helps boards make informed decisions that support long-term stability and homeowner satisfaction.

The Bottom Line

Choosing a management company with an in-house CPA is a smart, proactive move. It provides financial oversight, strategic insight, and regulatory compliance that associations need to thrive—protecting both the community and its future.

At Corner Property Management, we recognize the essential role a Certified Public Accountant plays in maintaining the financial integrity of a community. Our operations are guided by Andrea Dedrick, an accomplished financial executive with extensive experience in both public accounting and property management. As a member of the American Institute of CPAs and the New Jersey Society of CPAs, her leadership underscores the value of having an in-house CPA—providing our clients with disciplined financial oversight, well-established processes, and strategic insight at every stage.