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Common Interest Realty Associations (CIRAs) are Condominium Associations, Homeowners' Associations and Cooperative Housing Associations. Dwight Darby & Company performs audits, reviews and other services on a number of CIRAs, mostly in the Tampa Bay area. CIRAs are required to have a complete set of financial statements, prepared in accordance with generally accepted accounting principles, furnished to each unit owner within 90 days following the end of the fiscal year. These financial statements must be either compiled, reviewed or audited, (unless voted by upon the owners to waive these services). The type of financial statement required is based on the annual revenues of the CIRA. Dwight Darby & Company sets itself apart from other CPA firms by becoming experts in the area of CIRAs. CIRAs follow a very specialized form of reporting and accounting for certain assets that differ from any other industry. The staff at Dwight Darby & Company is formally trained and educated as to the specific accounting requirements of this industry. The firm is a member of the Community Association Institute (CAI) and the Suncoast Chapter of CAI. We stay updated with the latest industry trends and legislation in order to provide the best service to our clients. Our services not only include audits and reviews, but also assessment of the reserves required by CIRAs, preparation of the federal and state income tax returns and the tangible and intangible tax returns, consultation in hiring effective property managers and accounting personnel as well as being available during the year to provide any other services needed by the CIRA or its management company. Contact either Brad Tushaus or Kathy Tushaus for additional information about this area.
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