Chapter: 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | Association Governance
Article: 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | Annual Reports
Section: 5300 | 5305 | 5310 | 5320 |

Section 5305 - Financial Statement Review

Unless the governing documents impose more stringent standards, a review of the financial statement of the association shall be prepared in accordance with generally accepted accounting principles by a licensee of the California Board of Accountancy for any fiscal year in which the gross income to the association exceeds seventy-five thousand dollars ($75,000). A copy of the review of the financial statement shall be distributed to the members within 120 days after the close of each fiscal year, by individual delivery pursuant to Section 4040.

This section is referenced in Sections 4202, 4528 and 5565

Prior Law:  Old CID Section 1365(c)

Amended:  Statutes of 2012, Chapter 180

Similar to CI-CID: None