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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If you are talking about real estate in the sense of property’s the highest risk areas are the treatment of fixed assets and the depreciation/amortization as opposed to expensing building improvements, tenant improvements etc. If you are talking real estate funds I would say it’s fair valuation.

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Same as Sr 1. Most often we see errors on our HUD projects in R&M and fixed assets, especially with capitalize/expense

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