PPC posted SAS No. 134 Compliant HUD For-profit Multifamily Auditor’s Reports Appendixes 8A, 8B, and 8D
This morning the AICPA’s GAQC released versions of the required HUD for-profit reports in accordance with SAS No. 134 for fiscal year ends 12/31/2021 and after. It was expected that the reports would be released in an update to Chapter 2 of the HUD Audit Guide. Today’s release indicates that a revision of the HUD Audit Guide may not be imminent. However, the reports are available for immediate use. Word versions of the reports are available here.
- PPC posted the following information on 12/21/2021 explaining their delay of final versions of engagement letters and reports:
- 12/21/2021: https://thomsonreuterstaxsupport.secure.force.com/pkb/articles/Installation_Updates/Index-of-SAS-134-Reserved-Appendixes-Practice-Aids-in-2021-PPC-Products/?fs=Search. For additional information go to https://thomsonreuterstaxsupport.secure.force.com/pkb/ and enter GSA in the search box.
- 01/20/2022: 21 HUD Update on SAS No. 134 Compliant HUD For-profit Multifamily Auditor’s Reports (January 20, 2022) – link removed on 2/18 and replaced with the link shown above for 2/18/2022.
- The AICPA states that the “illustrative auditor’s reports have also been updated to reflect changes as a result of SAS Nos. 134-141 in the 2021 edition of the GAS SA Guide”. This is available for purchase here: https://www.aicpa.org/cpe-learning/publication/government-auditing-standards-and-single-audits-audit-guide-2.
- REAC is waiting to issue guidance until the OIG issues updated reports that will be part of an update to the Consolidated Audit Guide.
We will send out an email blast as soon as we have definitive information.