CPE: 4 hours
Category: Government & Nonprofit
Advanced prep: None
Who should attend: Practitioners involved with or considering the performance of audits of HUD-assisted projects
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.
When you complete this course you will be able to:
• 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 Circular A-133, 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.
• 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