Please click on the link below to review the entire section MCL 559.157. Financial records are now included in the documents that must be made available for Co-owner examination (added to books, records and contracts). Only Associations with annual revenues over $20,000 shall have an annual independent audit or review by a certified public accountant, which shall be performed in accordance with the standards of the American Institute of Certified Public Accountants, unless a majority of the members of the Association vote in a given year to opt out of the requirement. Contact us if you have any questions about the applicability of this law to your Association.  Read the amendment (PDF)