Nev. Admin. Code § 116.461 - Review of financial statements; qualifications of auditor

1. The review of the financial statements of an association must be performed in accordance with the standards followed pursuant to NAC 116.410. The financial statements must include a full presentation of accrual-basis accounting prepared pursuant to subsection 1 of NAC 116.457. The supplementary information may be compiled or reviewed.

2. An auditor performing the annual review for an association must:

(a) Be a certified public accountant licensed pursuant to chapter 628 of NRS.

(b) Be independent of the association as set forth in the standards followed pursuant to NAC 116.410.

Notes

Nev. Admin. Code § 116.461

Added to NAC by Comm'n for Common-Interest Communities by R205-05, eff. 9-18-2006; A by Comm'n for Common-Interest Communities & Condo. Hotels by R186-07, 5-5-2011; A by R129-21A, eff. 12/29/2022

NRS 116.31142, 116.31144, 116.615