Do your audits of HUD-assisted projects make the grade? Receive high
marks when you are well-versed on HUD organizations, programs, policies,
and procedures. Learn how to discern the various audit requirements for
HUD programs and how to comply with specific HUD regulations, contracts,
and procedures. Plus, review the latest developments on professional
standards affecting particular federal programs and how they impact your
audits.
Learning Objectives
Understand HUD's organization, programs, and policies
Identify key concepts of the operating environment for property owners
and projects with HUD-insured mortgages, direct loans, or capital
grants
Gain insight into reasons a developer would choose to develop property
with government assistance and, therefore, government oversight and
regulation, when conventional financing is available
Identify the specific requirements of OMB, Audits of States, Local
Governments and Not-for-Profit Organizations that differ from the HUD
Consolidated Audit Guide
Identify the annual financial statement reporting requirements to HUD
Identify requirements for the separate agreed-upon procedures engagement
prior to submission of the financial data templates to REAC and with
HUD's policy on submission, review, and reporting requirements
Major Topics
HUD programs Coverage of the consolidated HUD audit guide HUD's organization, programs, and policies Key regulatory and contract provisons Annual financial statement requirements Current developments in HUD housing programs Section 8 programs Auditing key regulatory and contract provisions Applying the Consolidated Audit Guide to HUD-regulated mortgagees
