Single Audit and HUD Audit
We help our clients in compliance with applicable federal and state laws and regulations, as well as any particular provisions tied with the specific assistance.
The U.S. Department of Housing and Urban Development (HUD) requires audits of entities participating in various HUD programs. For example, HUD requires program-specific audits of for-profit participants (e.g., multifamily housing entities, lenders, etc.) in selected HUD Housing and Ginnie Mae programs under the HUD Consolidated Audit Guide.
Not-for- profit and governmental organizations that participate in HUD housing programs fall under the requirements of the Single Audit Act and the Office of Management and Budget (OMB) Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Our single audit professionals are highly qualified for the financial audit as well as the compliance audit. Hundreds of billions of dollars of federal assistance come to aid the cash strapped state and local governments and not-for- profits each year.
This assistance is provided through thousands of individual grants and awards for the purpose of benefiting the general public in the areas of education, health, public safety, welfare, and public works.
As a condition of receiving this assistance recipients must comply with applicable federal and state laws and regulations, as well as any particular provisions tied with the specific assistance.
Our specialized HUD auditors are well versed in communicating HUD requirements to the Company management and in performing HUD engagements so that clients are well prepared for audit.