CPAs are frequently called on to provide advice to investors in specified real properties. Projections of cash flows and anticipated rates of return are an important element in the analysis. CPAs are constrained in their ability to make statements on certain aspects of projections by professional guidelines. The author presents arguments for and against greater involvement of the CPA, along with a comprehensive survey of CPAs, attorneys, broker-dealers, and syndicators as to their perceptions of the role of the CPA.
- © 1977 The Regents of the University of California