Review of financial statements; qualifications of auditor

NAC 116.461 Review of financial statements; qualifications of auditor. ( NRS 116.31142 , 116.31144 , 116.615 ) 1. The review of the financial statements of an association must be performed in accordance with the Guide . 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 Guide . (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)