What term describes the review of a condominium's financial records and statements?

A financial audit is a systematic process in which a condominium's financial records and statements are thoroughly examined to ensure accuracy, compliance with relevant laws and regulations, and to assess the overall financial health of the condominium. This process involves scrutinizing different financial documents such as balance sheets, income statements, and cash flow statements to verify that all financial practices comply with established accounting standards.

During a financial audit, the auditor will also evaluate the internal controls of the financial reporting process to identify any potential discrepancies, mismanagement, or areas needing improvement. This process is essential for maintaining transparency and accountability within the condominium's financial operations, offering peace of mind to current and potential owners regarding the financial integrity of the condominium management.

The other options refer to different aspects of condominium management. A technical engineering report relates to the physical aspects and condition of a building rather than its financials. The occupancy period pertains to the time during which an owner has the right to occupy the unit but does not relate to financial reviews. A turnover meeting is a strategic process for transitioning control from the developer to the condominium's board of directors, which may involve financial discussions, but it is not the term that specifically describes the review of financial records and statements.