rmfcpa
Newbie
Joined: 19 Sep 2010
Online Status: Offline
Posts: 1
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| Posted: 19 Sep 2010 at 10:22 | IP Logged
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Hello. I am a cpa that works for a property management
company. In addition to physically managing the
buildings and tenant leases, our company prepares monthly
financial statements for the owners, investors and in
some cases the banks that have made loans to the property
owners. In studying the SSARS 19 requirements, would our
company be required to follow this standard as a non cpa
firm fiscal agent?
I do not think any of our statements are used to secure
loans, etc....just to keep bank informed of the
properties' monthly financial status. When an owner is
purchasing new properties, an outside cpa firm prepares
the proforma documents for the banks.
If so, do we need to add an engagement letter to our
property management agreement or can we avoid all this by
noting on each page of the statement "For Management Use
Only".
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Topic: SSARS 19 requirement
Topic Closed)
