| ID | Status | Date | Public/Private | Industry | AHACPA Contact |
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| #6991 | Closed | public | Rural Development | Les Sparks |
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I have a potential new RD client that has 42 units and a RD mortgage loan balance that is less than $500,000. The project received an audit in 2014, but no audit or AUP was performed for 2015. Did the RD ever publish their final rule for audit and reporting requirements? Is the entity subject to an audit for 2015 and/or 2016? Is the entity subject to AUP for 2015 and/or 2016? |
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From Les Sparks: To the best of my knowledge, RD has not published the final rule. I cannot understand why there was no audit performed on the project year. If they were over 24 units they should have had a Yellowbook audit and they also should have performed the AUP engagement. Not until the Final Rule is published and made effective, will the $500k limit take effect. |
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