Review of financial statements; qualifications of person performing review

NAC 116B.240 Review of financial statements; qualifications of person performing review. ( NRS 116B.580 , 116B.585 , 116B.805 ) 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 116B.220 . The supplementary information may be compiled or reviewed. 2. The person 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 & Condo. Hotels by R186-07, eff. 5-5-2011)