When CPAs Behave Badly examines a series of accounting and audit failures at several Chicago condominium associations, raising serious questions about independence, professional ethics, and financial oversight in the community association industry. The article highlights cases involving auditors voting proxies and certifying board elections, failure to recognize major credit losses, overstated income and understated expenses in distressed associations, tax methodologies created and then audited by the same CPA, and repeated refusals to correct known errors. Taken together, the pattern suggests not isolated mistakes, but a broader governance problem in which the professionals responsible for protecting financial integrity may themselves be undermining it.
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