Duration: 60 minutes

Program Description

Typically operated by volunteer board members without accounting expertise, homeowners associations are more vulnerable to embezzlement than most businesses. Fidelity insurance coverage provides valuable protection against such a risk; however, such coverage typically is subject to such strict notice and reporting deadlines that delayed reporting of suspected theft can result in a coverage denial. This session provides tips on fraud detection, fidelity claims, prosecution and theft prevention.

Speakers

Ronald S. Stone, Ph.D., CPA, is a Professor of Accounting at California State University at Northridge. He teaches courses and has testified as an expert in forensic accounting. For over 20 years, he has provided accounting services to common interest developments. He is a longstanding member of CAI.

Thomas M. Ware II is a partner in the law firm of Kulik, Gottesman & Siegel, LLP. Since 1989, Tom’s practice has focused on the representation of non-profit homeowners associations, their volunteer directors and officers, and their property managers.Recently, with the help of his co-presenter Ron Stone, he helped a group of homeowner associations investigate and recoup approximately $1.5 million arising from a management company’s misappropriation of association funds.

Continuing Education Credit

This program provides one credit  toward:

• Certified Manager of Community Associations recertification
• Association Management Specialist redesignation
• Professional Community Association Manager redesignation

To earn credit, you must be personally registered for this program and print the certificate of completion to document your participation

Management Company Designation
Accredited Association Management Company (AAMC^®)

vice Provider Designations and Distinctions
Reserve Specialist (RS^®)/Community Insurance and Risk Management Specialist (CIRMS^®)/Educated Business Partner