Performing independent audits (Option B) ensures financial transparency, accountability, and compliance with industry standards.
Why Option B is Correct?
Internal or external audits verify accuracy, compliance, and identify errors.
Maintains credibility and trust with tenants.
IFMA’s Finance & Business Core Competency highlights audits as a best practice in lease accounting.
Why Other Options Are Incorrect?
Option A: Internal checks help but do not provide independent verification.
Option C: Having a tenant’s accountant review internal records creates a conflict of interest.
[Reference:, IFMA Core Competency: Finance & Business – Lease financial accountability., Source: IFMA Lease Accounting Guide (IFMA, 2023)., , ]
Submit