- Group Project-Based Sampling
We audit approximately 45 multifamily entities, all with the same management company. No issues have been identified surrounding controls. The…
- Surplus Cash – Insurance Payment Due
We have a HUD 202 project that does not escrow for property insurance. At year end for GAAP purposes there…
- Residual Receipts Recapture for Section 202 & 811 Projects
From September 20, 2016 We are members of your organization and Les has provided in-house CPE for us on numerous…
- ASU 2015-03 Debt Issuance Costs
Our audit partner brought to our attention the release of ASU 2015-03 during our audit planning meeting. We elected to…
- HAP Contracts
We have run into a unique situation. We have a client that receives project based HAP. In October of 2012,…
- Managing Agent Fees
I have a question concerning managing agent fees. I have a client that has a managing agent that charges basically…
- Single Audit Considerations Section 8
You had helped me out with a question on one of our HUD clients a few months ago and I…
- Single Audit Requirement for Home Investment Partnership Program
I am the CPA of an organization that received a loan from a housing commission. The housing commission is the…
- AFS Requirements with Prepayment
If a Sec 232 is prepaid by conventional financing in 2017, my understanding is that no ongoing financial reporting requirements…
- Managing Agent Travel
I have a managing agent that had an agreement with a client before a HUD refinance whereby the managing agent…
- Security Deposits
I have a client that has a managing agent that utilizes a central account. Our compliance audit revealed that the…
- Management Fees
We are working on the compliance end of a multifamily audit and we noticed that the managing agent is charging…