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  • 10/11: Section 8 Profitability - Part 1 (more info)
  • 10/12: Lender Update - Part 2 (more info)
  • 10/13: Multifamily Update - Part 2 (more info)
IN THIS ISSUE:
  • Upcoming Courses, including live courses in Las Vegas!
  • Information on SSAE No. 19 Agreed Upon Procedures
COURSE REGISTRATION INFORMATION

Registration is now open for AHACPA's Fall CPE Courses. Register Online or Print Registration form and send to us. Course fees are per person per session:

  • 4 CPE credit session: $149/$129 member
  • 8 CPE credit session: $395/$345 member
  • 16 CPE credit session: $650/$600 member - register before 11/13 for $50 discount
  REGISTER ONLINE   PRINTABLE REGISTRATION  
upcoming courses

HUD 101 Webinar - 4 CPE credits per session (more info)

HUD 101 will be an introduction to the required concepts for auditing HUD Projects. Topics include; compliance audits, audit report package contents and structure, AICPA guidance, Intro to Government Auditing Standards, HUD Audit Guide general requirements, Intro to tenant file testing, and more. There are no prerequisites for this course other than a basic understanding of audit theory. Who should attend: Individuals new to the Multifamily HUD audit area.

Part 1 - Nov 9 | Part 2 - Oct 21, Nov 12

Multifamily Update Webinar - 4 CPE credits per session (more info)

This course presents an update on the current HUD multifamily auditing and accounting environment. Content includes an update on HUD regulations related to COVID-19, relevant accounting and auditing updates, and other program changes affecting multifamily apartment project audits. Who should attend: Auditors, owners & managers of HUD-subsidized multifamily properties

Part 1 - Nov 5 | Part 2 - Oct 13, Nov 15

FHA Lender Update Webinar - 4 CPE credits per session (more info)

This course provides an update on HUD's single family loan program, FHA and Ginnie Mae programs, and HUD regulations related to COVID-19, including mortgage forbearance. We will also discuss relevant changes to financial reporting in the LEAP system. Who should attend: Auditors, owners, managers, and other financial personnel of HUD-Approved Lenders.

Part 1 - Nov 8 | Part 2 - Nov 16

Other Multifamily Webinars (more info)
  • Single Audit for HUD Webinar - 4 CPE credits: Nov 2
    Single Audit for HUD will address differences between a multifamily audit under the HUD Audit Guide vs one under Uniform Guidance. Topics to be discussed will include: Basics of planning, Compliance supplement application, What to do when there is no compliance supplement, Differences in reporting of findings, Internal control over compliance testing, Sampling strategies. Who should attend: Auditors, owners & managers of HUD-subsidized multifamily properties.
  • Section 232 Projects Webinar - 4 CPE credits: Dec 1
    This course is designed to give a program specific update related to the Section 232/leased nursing home program. Specific topics will include: COVID-19 related changes to program requirements, including quarterly reporting requirements, Financing alternatives for potential cash-out refinances based on new debt seasoning guidance, PPP loans and program requirements (specifically implemented HUD financing documents), Lender risk assessment tools and their implications for auditors. Who should attend: Auditors, owners & managers of HUD-subsidized multifamily properties.
  • Section 8 Profitability Webinar - 4 CPE credits per session:
    Part 1 - Oct 11; Part 2 - Nov 3
    Section 8 Profitability gives an in-depth look at how to maintain effective operations and profitability during these challenging times. Topics to include: Changes in Section 8 or other subsidy programs Due to COVID-19. Billing and Receiving Special Claims for Vacancies. Working with residents throughout the Pandemic. Moving to Paperless. Who should attend: Auditors, owners & managers of HUD-subsidized multifamily properties.
  REGISTER ONLINE   PRINTABLE REGISTRATION  

multifamily conference & lender update: live in las vegas
23rd Annual Multifamily Conference (IN PERSON)
December 13 - December 14
Las  Vegas, NV
16 CPE credits

Lender Update (IN PERSON)
December 15
Las Vegas, NV
8 CPE credits
Information on agreed upon procedures
In December 2019, the AICPA issued Statement on Standards for Attestation Engagements (SSAE) No. 19 Agreed Upon Procedures Engagements. The standard supersedes SSAE 18 AT-C section 215 and amends some sections of SSAE section 105, Concepts Common to all Attestation Engagements. This standard provided additional flexibility to CPAs by:
  1. Removing the requirement that the CPA request an assertion from the responsible party
  2. Permitting the CPA to issue a general-purpose report
  3. Not requiring the intended users to take responsibility for the sufficiency of the procedures
  4. Allowing procedures to be developed over the course of the engagement and allowing the CPA to develop or assist in the developing the procedures as long as the engaging party acknowledges the appropriateness of the procedures prior to report issuance
The standard is effective for AUP reports issued after July 15, 2021.
 
REAC, with the assistance of another CPA firm, has developed and received approval by the AICPA for new AUP reports related to multifamily housing. The sample reports cover both for-profit and not-for-profit entities. These reports can be found here.

These reports should be used immediately. However, these reports have not been posted to the GAQC website nor are they in the REAC system. There is no definitive date given for the update to the REAC system. These sample reports represent the only guidance given on how AUP reports may be look for any of the HUD filings (multifamily, lender and PHA) performed. We anticipate updates to all systems prior to yearend March 2022. However, even if the systems are not updated, practitioners will be required to update their reports for this change. These sample reports may be used as templates for making an educated guess for either LEAP or PHA.

AHACPA is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.  For more information click here.

AHACPA
459 N. 300 W. Suite 11
Kaysville, UT 84037
(801) 547-0809
info@ahacpa.org

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