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Homeowners Association (HOA) Fraud Prevention, Detection, and Investigation Services

Homeowners Association (HOA) Fraud Prevention, Detection, and Investigation Services

Homeowners Associations are meant to support the communities they represent. However, if you suspect your HOA has fallen victim to fraud, FAC-CPA can help you; identify, track, quantify, and mitigate the misappropriation of HOA funds resulting from:

  • Embezzlement or Theft
  • Altering of HOA financial documents/ statements
  • Giving kickbacks or bribes

A robust control environment is the best prevention against HOA fraud and FAC-CPA can help your organization establish internal controls to prevent the misappropriation of HOA funds using tools or procedures including but not limited to:

  • Ensuring proper record keeping and appropriate departmental supervision of employees
  • Proper review of and authorization for all contracts where the HOA is a party
  • Segregation of duties that includes distributing deposit & bank statement reconciliation procedures across the organization
  • Limiting access to vendor master files and conducting due diligence on third party vendors
  • Regularly updating passwords, bank account PIN numbers, and authorization codes

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