Auditor Opinion Letter UFRS vs Audit Guide

ID Status Date Public/Private Industry AHACPA Contact
#7561 Closed public FHA Lender
Customer Reply

[December 2015]

We have a question on the independent auditor’s report updated on your website as of January 2015.

The “Other Matters” paragraph in your template reads as follows:
“Our audit was conducted for the purpose of forming an opinion on the financial statements as a whole. The accompanying supplemental information shown on pages __ to __ is presented for purposes of additional analysis as required by the *Uniform Financial Reporting Standards* issued by the U.S. Department of Housing and Urban Development, and is not a required part of the financial statements.”

In our issued financial statements we have referenced the “Audit Guide for Audits of HUD Projects, issued by the HUD Office of the Inspector General” and they have never been “kicked back” by HUD in the LEAP submission.
Which is correct?

Kathy Christensen

From Mike:

The reports on our website are correct for last years audits. The language you are referring to was changed several years ago. I am not sure if the reports will be any different for the current year audits, we are looking into that. But as far as the language you are referring to, the language in our reports are correct. You should update your reports to the new language.


From client:

Thanks for the response but I have an additional question about what is required in the next paragraph.
In your sample letter, the last paragraph (Other reporting Required by Government Auditing Standards) you reference only the report of internal control over financial reporting. However, per the HUD requirement, we also submit a report on compliance for major HUD programs. Doesn’t this have to be listed in our auditor’s report as well as a separate item?


From Mike:

The report on compliance for major HUD programs is not referenced in the latest reports. The only report that is referenced is the report of internal control over financial reporting. The compliance report should not be listed.

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