ODONI PARTNERS CPA CHICAGO

Chicago

HUD Audit

HUD (Medium)HUD Audit

The U.S. Department of Housing and Urban Development (HUD) sponsors a broad range of programs, primarily directed toward families with low to moderate income, designed to revitalize urban neighborhoods, stimulate housing construction, encourage home ownership, and provide safe and affordable housing.

 

The programs are carried out through various forms of federal financial assistance, including entitlements, grants, direct loans and advances, subsidies and mortgage insurance. Depending on the particular program, recipients of the federal aid may be units of local government, such as states, cities or counties; public housing authorities that develop, own or operate housing projects; other profit-motivated or nonprofit builders, developers or owners of housing projects; mortgage lenders; or individuals.

At Odoni Partners, we use tailored audit approaches and procedures, according to AICPA (American Institute of Certified Public Accountants) and HUD guidelines, to assist participants in this program.

We perform our audits in accordance with the Government Auditing Standards, issued by the Comptroller General of the United States, to ensure the client has:

  • provided financial data and reports that can be relied upon;
  •  internal control in place to provide reasonable assurance that it is managing HUD programs in compliance with applicable laws and regulations; and
  • complied with the terms and conditions of federal awards and guarantees, and thus expended federal funds properly and with supporting documentation.

More in this category: « Asset Based Lending Audit