Gain important insights into compliance pitfalls for HUD-assisted housing owners and managers. Learn to recognize and apply the latest changes in the federally-assisted housing industry and efficiently plan, perform, and report a HUD-assisted engagement. Uncover the effects of OMB Circular A-133 on HUD-assisted not-for-profit entities.
- HUD audit environment
- Audit standards for audits of HUD-assisted projects
- Fieldwork standards for audits of the HUD-assisted projects
- Audits of HUD-regulated lenders
- Reporting standards for audits of HUD-assisted projects
- Annual financial statement requirements
When you complete this course, you will be able to:
- Identify issues unique to the HUD-assisted project environment.
- Apply components of due professional care to the HUD-assisted project environment.
- Identify the required disclosures for HUD audits.
- Describe the HUD’s policy on submission, review, and reporting requirements.
- Identify the requirements for the separate agreed-upon procedures engagement prior to submission of the financial data templates to REAC.
- Understand the compliance requirements for both Title I and Title II approved lenders.
Who Will Benefit?
CPA firm audit managers (and above) involved with the performance of audits of HUD-assisted projects and Government auditors and HUD-assistance grantees
Prerequisite: Experience in conducting and/or planning HUD audits
Advanced Preparation: None