Tax Code

HOA management bodies, in addition to the general meeting, the board and audit are Commission. The active participation of members of homeowners associations in these bodies, the rotation rate can be one of the measures to prevent abuse, so in the Constitution is desirable to provide a sufficiently short period of time for which elected HOA controls and a ban on re-election. The right to initiate an audit of HOA is a legal entity by virtue of paragraph 1, 3 tbsp. 4 of the Federal Law of 21.11.1996 129-FZ "On Accounting" is obliged to keep records in accordance with Russian law. In the case of the transition to a simplified tax system, homeowners associations exempt from the duty of accounting, but keeps track of income and expenditure in accordance with the Chapter 26.2 Tax Code of the Russian Federation.

Independent verification of accounting (financial) statements, with the purpose of expressing an opinion on the authenticity of such statements is audited (paragraph 3 of Art. A Federal Law of 30.12.2008 "On Auditing Activities "). Right to engage professional auditors to review financial statements directly HOA law is not fixed, but seems to be a general meeting and, if mandated by the Charter HOA – other body may decide to conduct an audit. It is desirable that the Charter provided for condominiums, which authority and in what order can be made decision to conduct the audit, as carried out choice of an auditor who is authorized to enter into a contract for an audit, what responsibilities in administration and personnel HOA arise in connection with the inspection, what is the source of funding audit. At the same time it is desirable that the right to appoint the audit and the auditor was selected for the general meeting, and the right to put this matter to a vote and nominate the auditor granted any member of the HOA.