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
When you complete this course you will be able to:
Recall 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.
Recognize 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 Uniform Guidance, 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 provisions
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
Provider
AICPA
Course Level
Basic
Professional Area of Focus
Accounting & Auditing
CPE Field of Study
Accounting
4
Who Should Attend
Practitioners involved with or considering the performance of audits of HUD-assisted projects
