CPE: 8 hours
Category: Government & Nonprofit
Prerequisites: Experience performing audits in accordance with, including the requirements of, generally accepted auditing standards and Government Auditing Standards.
Advanced prep: None
Who should attend: Auditors and management of multifamily housing projects.
Dig into required procedures and documentation for audits of multifamily housing projects, including how they differ under the HUD Audit Guide and as single audits. We will address Chapters 1-3 of the HUD Audit Guide, Circular A-133 and changes included in the Uniform Grant Guidance, including compliance requirements, sampling, findings and reporting. We will also discuss documentation and reporting requirements in association with the entity's REAC filing and deficiencies commonly found in HUD audits.
- Recognize audit requirements of multifamily housing projects owned by for-profit or nonprofit entities.
- Identify effective testing and sampling techniques.
- Recall compliance requirements.
- Determine required audit documentation.
- Determine requirements for for-profit vs. nonprofit entities.
- Identify changes resulting from the Uniform Grant Guidance.
- Overview of standards: HUD Audit Guide vs. Uniform Grant Guidance and Circular A-133
- Planning, testing and sampling
- Compliance requirements
- Electronic submission of financial data
- Overview of changes to single audits as required by the Uniform Grant Guidance