Section 116.461 - Review of financial statements; qualifications of auditor1. The review of the financial statements of an association must be performed in accordance with the standards followed pursuant to NAC 116.410. 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 standards followed pursuant to NAC 116.410.Nev. Admin. Code § 116.461
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; A by R129-21A, eff. 12/29/2022NRS 116.31142, 116.31144, 116.615