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McAvoy CPA LLC

Audits for Real Estate Industry

Contact Us New Jersey: 973-328-0446 New York: 888-512-1260

Your Trusted New York Real Estate Audit Professionals

Randolph real estate auditors reviewing caseSince the 1950s, our accounting firm has helped real estate professionals, conduct the crucial real estate audits that they need. We have extensive experience working with co-ops, boards of co-ops, and housing groups. At McAvoy CPA LLC, our team is comprised of former Big Four accountants that bring technical expertise and transparency to each client interaction. Our CPAs will take the time to organize your records down to the last document and analyze their compliance to ensure a smooth and seamless auditing experience.

From start to finish, we can conduct your real estate audit either virtually or in person. Whether you would like to work with us over the phone or meet face to face, our goal is to build a strong relationship with you for years to come. We are proud to serve real estate professionals in Manhattan, Midtown, greater New York City, and the surrounding boroughs. Contact our friendly New York CPAs today to schedule your free consultation!

New Jersey: 973-328-0446 New York: 888-512-1260

What Is a Real Estate Audit?

A real estate audit is more complex than a traditional audit. Instead of simply examining an individual or company's tax filings, a real estate audit requires looking at a company's financial and operational standings. During a real estate audit, we closely scrutinize compliance with state and local regulations, as well as record-keeping for each real estate asset and transaction.

Real estate professionals must conduct real estate audits annually, but other factors can necessitate an additional audit, including pending litigation. Regardless of what prompts it, an audit verifies the validity of a company's income, losses, and transactions during a specific period. Our New York real estate auditing team understands the importance of airtight records and will work to ensure your assets and transactions comply with regulations.

The McAvoy CPA LLC Difference

businessman shaking hands with clientAt our accounting firm, we take great pride in our ability to streamline the real estate auditing process for our clients. No matter how complex the situation may be, our experienced CPAs have the expertise and process knowledge that you can depend on. Additionally, we are happy to answer any questions you may have along the way.

Our team utilizes a technology platform that helps us handle your real estate audit with ease. It allows us to securely upload and transfer sensitive information without having to worry about data breaches. You can rest assured knowing that your real estate audit is in good hands.

Required Real Estate Audit Documents

One of the most significant challenges that accompany real estate audits is compiling the necessary documents. It is not always clear what paperwork you need to produce. We will eliminate any guesswork by thoroughly and extensively tracking down every bit of required information. Our New York real estate auditors will take the pressure off you by preparing the necessary documents for your audit, including:

  • Purchase or sale contracts for any real estate activity
  • Funding agreements with private investors, joint ventures, or lenders
  • Financial accounting records, including tax returns, bank statements, and profit and loss statements
  • Any records for earnest money, escrow funds, or trust funds received or held
  • Property management reports, including repair orders, leases, or any property-related expenses
  • Property valuations and condition/impairment reports
  • Annual meeting notes, corporation minutes, or other entity-related documentation

Real Estate Audits for Housing Groups & Co-Ops

Randolph auditor pointing at tabletHousing groups and co-ops face annual audits to ensure transparency in their business dealings. Real estate audits help facilitate full disclosure for all members involved, including housing and tenant communities and stakeholders. A critical difference for housing groups and co-ops is the need for a third party to compile the necessary information.

At McAvoy CPA LLC, we understand that housing groups and co-ops need timely and efficient real estate audits. Our attention to detail and quick processing can show every member involved that funds are being spent appropriately. Additionally, we will alert you to any document discrepancies that we find. You can call our New York CPAs year-round for quick assistance with any real estate audit.

Reliable New York Real Estate Audit Assistance

Our New York accounting firm is passionate about providing our clients with the high-quality work they deserve. Having experienced professionals on your side for real estate audits can make a world of difference. Every one of our CPAs pays careful attention to detail so that you can focus on the bigger picture. If you are ready to ensure peace of mind for everyone involved, including owners and investors, call our office today for your free consultation!

New Jersey: 973-328-0446 New York: 888-512-1260