Hey Auditors - what are the typical big risk areas in real estate groups? What key controls do companies use to mitigate that risk?

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Are most of those companies public? I was under the assumption that the vast majority were just private partnerships with a web of LLCs. Logically I would think 1) review controls for contracts, 2) insurance stuff, 3) possibly model governance, 4) the rest of your normal business process controls for cash/payroll/etc.

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^ both as a risk and a key control.

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It depends. Is op talking about funds, reits, construction? It matters which type of real estate.

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What kind of real estate?

@EY 1: Fair enough, I work in IT Audit and haven't work in RE.

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