Simplifying the Compliance Process

Condominium and timeshare associations in Hawaii are subject to stringent state laws.  Hawaii AOAOs with more than twenty owners are required to have a public accountant perform an annual audit of the association’s financial accounts and at least one annual unannounced cash verification. 

In performing hundreds of audits for AOAO and Timeshare Associations, we have developed a comprehensive understanding of the audit and tax issues unique to these entities.  We are committed to helping homeowner’s associations throughout Hawaii meet their financial reporting requirements.

With clients on Maui, Oahu, the Big Island, Kauai, Molokai, and Lanai, we are capable of providing audit and tax services throughout the State of Hawaii.  Our participation in the AICPA’s peer review program ensures that our services and quality control meet the highest professional standards.

Contact us today to receive a proposal for your next year-end auditing & tax engagement.  A full list of references is available upon request.

Financial Statement Audits

A financial statement audit provides the highest level of assurance that your organization’s financial statements are presented fairly, free of material errors, and in conformity with accounting principles generally accepted in the United States of America.  An annual audit is required in the State of Hawaii for Condominium Associations with more than twenty owners.  Our audits are conducted in accordance with Generally Accepted Auditing Standards issued by the American Institute of Certified Public Accounts.

Tax Preparation & Planning

Tax services for rental pools and homeowner, timeshare, & condominium associations include:

  • Preparation of Forms 1120 & 1120-H
  • Preparation of state tax returns
  • Compliance with 1120-H requirements
  • Tax planning services to help minimize taxes and tax risks
  • IRS and State audit representation 

Reviews

Reviews are less comprehensive than an audit and provide limited assurance about an organization’s financial statements. Our reviews are conducted in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accounts.

Compilations

Compilations are appropriate if you need financial statements for your own internal use or for limited use by third parties. Since we generate financial statements using information you provide, we do not express an opinion or provide assurance for compilation engagements. Our compilations are conducted in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accounts.